OK!  I have written 5 offers this month with different buyers on REO and Short Sale properties! There has been a bidding war on each property with the competition being anywhere from 2 to 11 offers on these homes. Now buyers have to write over the listing prices in order to have a chance to purchase a home!  I think listing agents need to list these properties at a realistic price.

This is worse than the previous market because not only do we have to deal with the multiple offers but we have the frustration of waiting for the lenders to make a decision! The values will steadily increase and if buyers do not come up to the plate and offer at list price or more then they will not have a ratified contract. We will start hearing from buyers again the "I can kick myself now for not offering more" syndrome!

My buyers are not coming up to the plate! This is my Frustation! I guess they will have to learn the hard way!

There is new NAR MLS rules that may soon be coming about. Go to Inman News and find out the scoop!

We are in the same market as before but with lowers prices!! 

 

5 Comments on OK! This is So Frustrating!!

A lot of homes are using that tactic to sell.  List really low and up the price with multiple offers.  Unfortunately it is happening.

04/28/2008 10:25 PM by Ryan Bretzel (Keller Williams Integrity)

I continue to say that this is four times the work and 25 percent of the pay.

04/28/2008 10:32 PM by Connect Financial Services

Jean - this is not neccessarily a really bad thing. Thinbk of the opposite scenario - homes on the market dropping thier prices every 2 weeks. That's a real scenario in many areas aropund the country right now.

04/28/2008 10:40 PM by ILM Realty

This is a lot of work!  These properties sold between $500,000 to $600,000 a year ago and the listing prices now are $240,000 to $309,000, I feel the list prices are still unrealistic

04/28/2008 10:50 PM by Jean Powers CRS,PMN,ASP Broker, Northern California (Windermere Welcome Home)

Jean......I wonder if this is an article 12 violation of the code of ethics as it does not present a true picture and as it is used to lure buyers and agents to the property.

04/29/2008 12:13 AM by Pam Winterbauer ~ 2006 REALTOR® of the Year (Windermere Welcome Home)

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Real Estate Agent: Jean Powers CRS,PMN,ASP Broker, Northern California (Windermere Welcome Home)
Jean Powers CRS,PMN,ASP Broker, Northern California
Alameda, CA
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Windermere Welcome Home

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