Special offer

Have you noticed multiple offer situations increasing?

By
Real Estate Agent with Keller Williams Realty, Bellevue

Multiple offers. Yes. Back to the beginning... or at least, a semi-kick-back to those 'good ole days' before bubbles started popping.

I have been encountering multiple offer situations since last Spring, and if anything, it is increasing. And, no, it is not only with the bank-owned properties. I also encountered it last summer in the high-end range.

With the high-end homes the situation was a lack of inventory. Too many would-be sellers seem to be waiting 'for the market to improve.' Many of those who normally would be either downsizing or 'moving up' have the option of doing it now or later. And many are choosing the 'later' option - just sitting tight until the economic storm is over. Thus, inventory has been low in some prime Bellevue and Seattle areas creating a minor seller's market.

And the bank-owned. My experience here has focused on entry-level areas with first-time homebuyers and investors. All the bank has to do is price the home competitively, i.e., at or just below fair market value, and the buyers are attracted like bees to honey. So, for every one home sold, there remain three or more disappointed buyers.

 

Comments (4)

Jeanette Vallance
VISION REALTY WINDSOR INC. Brokerage - Windsor, ON

I have noticed an increase in multiple offers here as well.. Yahoo to the market finally turning..

Mar 28, 2012 12:32 PM
Yvonne Schnee
Keller Williams Realty Moorestown - Lumberton, NJ

Let's hope the trend continues! That's news the media fails to cover; they are drawn to the doom & gloom reports.

Mar 28, 2012 12:40 PM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Multiple offers is the norm where I am at. Can we say... seller's market?

Mar 28, 2012 12:56 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

We are learning more and more about increased numbers of multiple offer situations.  This may be a good sign!

Mar 28, 2012 01:32 PM