Special offer

as one buyer put it “I don’t even have time to do the three s’ before there are multiple offers...

By
Real Estate Agent with Results Real Estate 801.580.5624 5642270-PBOO

The local market has exploded with buyers.  They are everywhere and they are bidding on everything.  A traditional seller who prices their home correctly will surely have multiple offers.  My buyers have been in multiple offer situations from the price range of 60,000 all the way up to $400,000.  

Below are this weeks quotes:

“Forget it, there are even multiple offers on homes that need to be knocked down.  I’m done looking until more homes become available to look at.”

“ I’m taking a break.  I can’t compete, I can only offer what I can afford.  I will never beat out people who are paying cash.”

“Do I have to submit an offer before I even see the home?”

“I don’t want to see anymore short sale, foreclosure or HUD homes.”  I’m sick of the bidding process, multiple offers and being the first offer but the agent holding the offer until there is a multiple offer situation.”  

“Find me a traditional seller or I won’t go see homes until you do.”

“How are there multiple offers, its a new listing today and I haven’t even finished my three s’s for the day?”

Sellers, if you have been considering selling your home or had it for sale in the past and took it off the market, now is the time to seriously reconsider.

WE NEED YOUR HOMES ON THE MARKET


call me to find out what your home is worth

Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

Jon,  it was so funny when she said it I just wish it wasn't true.  Hope you have a good one! 

Apr 20, 2012 03:00 AM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

Raymond,  I like HUD offers too, but we keep getting beat out on those too...  so frustrating 

 

Apr 20, 2012 03:01 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

For a moment I was wondering what the three s' are -- thanks #9 for enlightening me.  LOL  Yup, this market is moving again.  Very tight inventory here in Portand, OR.  I do caution buyers about getting in to another feeding frenzy.  They have got to stay mindful of overpaying in a multiply bid situation.

Apr 20, 2012 03:08 AM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

Bill, Congrats on being more of a listing agent.  I've tried for years but seem to always end up very heavy on the buyer side.  I need to focus on changing that before I have to find another job :)

 

Apr 20, 2012 03:18 AM
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA
Kim....we are seeing similar trends here too. As Carla said, buyers still want to avoid overpaying though.
Apr 20, 2012 04:57 AM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Kim, Good stuff, yes in the Seattle market we are seeing some neighborhoods that are attracting multiple offers. You made seveal good points, specifically houses that are priced right will get multiple offers and there's a shortage of inventory. Sellers in Utah take notice. 

Apr 20, 2012 07:00 AM
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

Hi Kim.   We have the same thing here in the Central Valley of Ca.  I am trying to get the word out too.  

Apr 20, 2012 09:28 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

We are experiencing multiple offer situations as well and contract prices will go over list price.  Unfortunately, the appraisers don't seem to see it that way yet as they are often using distressed properties as comps and the appraisal values will come in lower than the contract prices... that's when the dilemma continues.

Apr 20, 2012 11:34 AM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

I love reading posts like this. It's so great to hear that your market is "exploding". I'm feeling like we're on the verge of getting there, but aren't quite there yet. Hopefully, such good industry news is contagious!

Gretchen

Apr 20, 2012 01:04 PM
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Our market is stronger than the past few years, but we're a long way from a feeding frenzy. Aah, the good old days...

Apr 20, 2012 01:34 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I am seeing that various parts of the country are seeing multiple offer.. I am cautiously optimistic that we are starting to see a recovery in the real estate sector of the economy!

Apr 20, 2012 01:47 PM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
I am about to put a bunch of new listings on the market so this will be music for the Sellers!
Apr 20, 2012 06:51 PM
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Kim,

Good post.

I am afraid to ask...

What are the three s's?

Phil

Apr 20, 2012 09:37 PM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

Dan~ Last year I was complaining about where are all the buyers get off the fence people... well they got off and the sellers jumped on... hmmmm

 

Karen~ frustration is everywhere, buyeres=multiple offers   sellers=low prices still

 

Elizabeth~ hope your buyer loved the home they called on and that they were able to see it before it hit escrow.  I scheduled 12 homes yesterday for showing today... by the end of the day only one is left......

Fritz~Thanks and have a great weekend and I like your version of smile shower and shave..

Than~~ if your normally behind the market a little bit... then rush out and get some listings..... you'll be glad you did

Anthony~hope the trend is treating you well

Valerie~ 6 months! wow I hope they find something soon..now thats dedication

Tammie~ I'm trying to get something under contract... this year has been a lot of hours a little pay but thats because I deal with buyers more than sellers.

Debbie~ I wish listing agents would respond by deadlines  If they don't want to respond quickly than they  should put something stating all offers due by...a date and reviewed after that time 

Carla & Christine~ I agree about buyers and how they need to stay focues.. avoid the feeding frenzy for sure  I have lenders tell me to have my buyers over bid and not stress out about it at least you'll get in first position and it wont appraise for that much so we will worry about price then...... I don't think so

Apr 20, 2012 11:34 PM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO

Adrian~I love seattle!!!  I was born and raised in WA state and lived there until 9 years ago when we had to move to Utah.  Good luck to you in your beautiful Seattle market.

 

Jim~ Good luck and keep trying to get your word out.  Its like a battlefield for sure

 

Silvia~ I agree appraisers are still keeping prices low and because of that the traditional buyers are hard to come by, they can't afford to sell and we need them in the market 

Gretchen~ if you are on the verge of a shift go grab as many listings as you can.........

Tim~It's always something isn't it~ I hope your market stays strong and avoids this crazy shortage

Joan~ multiple offer areas are spreading for sure, I'm sure your area will pick up.. 

Cheryl~ Woohoo! Go get 'em and congrats on the new listings!

Phil~ well the three s's an vary it depends on whose version you prefer... my client had the traditional version of the 3s' s  but Fritz in comment number 9 had a nicer more pleasant version....... 

 

Thank you everyone for all the comments~~~~~~~~~~~~~~~ I really appreciate it and really enjoyed reading them

Kim

Apr 20, 2012 11:40 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Play...Yes. Over pay NO.....Fair market value and ready willing and able is where things work every-time

Apr 20, 2012 11:48 PM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

We need sellers too! Especially waterfront homes! It was this way last year as well!  

Apr 21, 2012 12:02 AM
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

So then its smile... shower ... and sell, right?  Or sell, sell and sell some more.               

Apr 21, 2012 01:35 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

That is the kind of juggling I can get into we are not to that point yet but I feel it coming

Apr 24, 2012 01:01 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Kim -- times are tough for buyers today but there are many examples of buyers purchasing with a mortgage beating out multiple all-cash buyers and other examples as well.   

May 27, 2012 01:49 AM