45 Written Offers in 5 Days
It can still happen. Even in this so-called "slow real estate market" don't be shocked to see a flood of offers. With the help of your Realtor®, price your home right and you may get 45, or even more, offers in 5 days.
Today my client and I, who by the way found me on Active Rain, toured an REO/Bank Owned Home in an area of Oxnard, Ventura County, where there are 3-4 for sale signs per street. The reason for that is a whole different story. This house had been on the market for 5 days and already the kitchen counter was filled with Realtor's® business cards.
I have been showing an average of 5-6 homes per week and from that list there are at least 2-3 short sales or REOs. This particular REO (Real Estate Owned), except for the carpets, was in great shape and condition. My client, who is a very educated home buyer, loved the house and asked if I could find more about the home and the sale conditions.
As soon as we were done I contacted the listing agent to find out 45 written offers had been submitted to her in the first 5 days that the house had been on the market.
My client was really disappointed, however, I pointed out that as soon as this home is pending sale or closes escrow it's very likely that all other homes in the area will lower their prices as well.
So now my client is among at least 45 other potential home buyers eagerly watching this area of Oxnard. The first one who present the best offer on the next reasonably priced home is the next winner.Who said there were no Home Buyers out there?
Here is a Compare Market Analysis (CMA) on the property mentioned above:
Criteria: all listed and sold properties are within ¼ mile of the property.
Note: The first Property in the list below is the property with 45 offers.
Active Properties:
City | Bd | Bth | SqFt | LotSz | $/SqFt | DOM | Orig Price | List Price | |||||||
Oxnard | 4 | 3 | 2,284 | 4209sf | 145.58 | 14 | 332,500 | 332,500 | |||||||
Oxnard | 3 | 3 | 1,895 | 5397sf | 184.70 | 113 | 399,000 | 350,000 | |||||||
Oxnard | 3 | 3 | 1,993 | 3881sf | 193.18 | 30 | 385,000 | 385,000 | |||||||
Oxnard | 3 | 2.50 | 1,993 | 3764sf | 200.20 | 10 | 399,000 | 399,000 | |||||||
Oxnard | 3 | 3 | 1,935 | 4904sf | 211.89 | 36 | 410,000 | 410,000 | |||||||
Oxnard | 3 | 2.50 | 1,935 | 4796sf | 214.47 | 101 | 435,000 | 415,000 | |||||||
Oxnard | 3 | 2.50 | 1,935 | 4293sf | 217.05 | 90 | 420,000 | 420,000 | |||||||
Oxnard | 4 | 3 | 2,488 | 4290sf | 171.02 | 215 | 548,500 | 425,500 | |||||||
Oxnard | 4 | 3 | 1,993 | 3638sf | 215.25 | 120 | 469,000 | 429,000 | |||||||
Oxnard | 4 | 3 | 2,164 | 4519sf | 203.33 | 66 | 440,000 | 440,000 | |||||||
Oxnard | 4 | 3 | 2,044 | 4005sf | 220.11 | 47 | 449,900 | 449,900 | |||||||
Oxnard | 3 | 2.50 | 1,935 | 4686sf | 232.51 | 6 | 449,900 | 449,900 | |||||||
Oxnard | 5 | 2.50 | 2,488 | 4252sf | 180.87 | 103 | 499,000 | 450,000 | |||||||
Oxnard | 4 | 3 | 2,399 | 4005sf | 191.33 | 34 | 459,000 | 459,000 | |||||||
Oxnard | 3 | 2.50 | 1,935 | 6937sf | 240.31 | 84 | 499,999 | 464,999 | |||||||
Oxnard | 5 | 3 | 2,222 | 5500sf | 215.57 | 154 | 499,000 | 479,000 | |||||||
Oxnard | 4 | 3 | 2,284 | 4209sf | 218.48 | 105 | 499,000 | 499,000 | |||||||
Oxnard | 4 | 3 | 2,164 | 4922sf | 235.21 | 72 | 509,000 | 509,000 | |||||||
Oxnard | 3 | 2.50 | 2,244 | 4005sf | 244.65 | 279 | 599,000 | 549,000 | |||||||
Oxnard | 4 | 3 | 2,399 | 4027sf | 228.85 | 50 | 569,000 | 549,000 | |||||||
High | 549,000 | Low | 332,500 | Median | 444,950 | ||||||||||
Sold Properties in the past 6 months:
City | Bd | Bth | SqFt | LotSz | $/SqFt | DOM | Orig Price | List Price | Sale Price | SP%LP | ||||||
Oxnard | 3 | 2.50 | 1,895 | 5543sf | 229.55 | 43 | 469,900 | 449,900 | 435,000 | 96.70 | ||||||
Oxnard | 4 | 3 | 2,284 | 4209sf | 199.21 | 28 | 499,900 | 499,900 | 455,000 | 91.00 | ||||||
Oxnard | 4 | 3 | 2,044 | 4005sf | 226.76 | 118 | 529,000 | 450,000 | 463,500 | 103.00 | ||||||
Oxnard | 4 | 2.50 | 2,488 | 4252sf | 188.91 | 184 | 649,000 | 499,000 | 470,000 | 94.20 | ||||||
Oxnard | 5 | 3.50 | 2,417 | 4212sf | 198.59 | 151 | 629,900 | 499,900 | 480,000 | 96.00 | ||||||
Oxnard | 5 | 3 | 2,315 | 3658sf | 215.55 | 44 | 479,900 | 479,900 | 499,000 | 104.00 | ||||||
Oxnard | 4 | 3 | 2,543 | 4800sf | 202.52 | 12 | 539,900 | 539,900 | 515,000 | 95.40 | ||||||
Oxnard | 4 | 2 | 2,084 | 6578sf | 249.52 | 8 | 529,900 | 529,900 | 520,000 | 98.10 | ||||||
High | 520,000 | Low | 424,900 | Median | 466,750 | |||||||||||
Source: Ventura County Regional Data Share
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