User9826_1_t Frances C. Rokicki, Broker~Mentor,CRS
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The market is now in a state of "buyer's choice" rather than, sellers will only do this.  So, how can it still seem that the sellers are "winning" in this market.  Here's what I am seeing in our area, in Connecticut.  If the home is in pristine condition, priced agressively and in a good location, it sells in less than two weeks. If the buyer doesn't jump right in to an offer, he will either loose the chance of buying that home or a bidding war will determine who moves into this home next.  I just had this happen to my buyer clients yesterday.  While they were "thinking" about the possibility of moving into a beautiful home in my town, someone else bought it out from under them.  They had discussed with their banker, the options open to them.  They own a home now, so, they were looking into the possiblity of a "bridge loan."  The listing agent called my office and left a message.  I returned her call and we discussed the possibility of an offer coming in from another buyer.  She had nothing in her hands yet, but, was told it might be coming sometime in the early evening.  I immediately tried to find my buyers.  Holiday weekend, yikes!  I finally heard from them in the late afternoon. 

After discussing their options, they decided to talk about it and call me back.  I went on to the computer and checked the mls listings for the homes that were currently under deposit in their present neighborhood.  When I completed their CMA, two days earlier, there were three under deposit.  Just wanted to confirm the status and see if any thing else may have come on.  I checked the "under deposit" status on the mls home page.  Much to my surprise, the home they were going to write an offer on in my town, was already under deposit.  I gave my clients a quick call back to let them know.  I then, called the listing agent, to let her know that my clients had procured financing for a bridge loan and were strongly considering this property she had listed.  I think she was surprised. Not many mortgage officers work the weekend, but, this one did.  If she had called me one more time, she would have had people bidding up this property. 

I then, told her that I noticed it was already gone.  She said, yes, I felt it was a good offer.  So, there you have it.  In just two days, you really need to be ready to jump!  This property was listed for seven days.  My clients will place their home on the market this week.  They will probably build a new, custom home.  It isn't often, that a pristine home is offered for sale.  Their home is pristine, so we are confident of a quick sale.  Sellers are still winning in this buyer's market.  If you have a pristine home, list it now!  Many buyers are waiting, just for your home!

 
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13 Comments on Buyers, Should You Jump?

good post..now is the time to buy..especially here in Las Vegas..Prices have come down..Bank repos are priced really well...

05/25/2008 09:50 AM by Michael Shankman Selling Las Vegas 702-498-3383 (Liberty Realty )


You're right.  If it's in good condition, nice location, and priced right, it's either selling fast or in multiple offers.

05/25/2008 09:55 AM by Hope Goss (Ventura Property Shoppe)


Michael,  The Buffini Leadership Conference is in Ceasar's this coming week;)  Are you a manager or broker?

Hope, yes, heartbreaking to the buyers, though.  They are still in shock that they missed out, and so quickly.

 

05/25/2008 09:59 AM by Frances C. Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)


Even though the overall general picture of real estate isn't too good (thanks to the media), the truth is, real estate is local. Like you said, if the house is in a great location, great condition, and priced right, a hesitant buyer can easily lose out.

05/25/2008 10:12 AM by Eugene Jones (Royster Real Estate)


Eugene, Yes, and they lost in a very short time span!

 

05/25/2008 10:17 AM by Frances C. Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)


YES there are some GREAT areas for Dallas real estate, where Dallas homes for sale are HOT, place your offer then or they are gone.  I believe it based on where. Dallas home foreclosures are not necessary below market value, however there are other deals for Dallas real estate, Dallas homes for sale which the Dallas home buyer can get in on .... matter of locating a realtor who knows what they are doing.

 

Lynn 911 Dallas Top Real Estate Team

Visit our website:  Dallas homes for sale, Over 4,000 Dallas home foreclosures, Dallas homes for rent,

Website:  http://www.lynn911.com/

Email:  911@lynn911.com

05/25/2008 10:50 AM by Lynn911.com ~ Top Dallas Real Estate Agent (Dallas Real Estate ~ Lynn911.com )


Lynn,  I wonder if she thought about what my buyer's offer would have been?  Why did she call and ask, and then, go forward as if we didn't exist?  She was told of their strong interest and their strong qualifications. I guess part of that bothers me.  I said, wow, it must have been a really good offer, to which she replied, I felt it was a good offer.  So, we move on and I look forward to seeing the price when it closes.  I look forward to the next pristine home I sell:) 

05/25/2008 11:17 AM by Frances C. Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)


Sorry, that one is already under contract!!

05/25/2008 03:45 PM by Colleen Cooley, CRS (Seacrest Florida Properties)


Colleen, I can't wait to say that about my client's home.  Their house will sell in a snap!

05/25/2008 05:59 PM by Frances C. Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)


Frances sorry your buyers lost out on this home, but hopefully they learned a lesson from it when they place their home on the market.  If they prepare their home and price it correctly they too might experience the same thing.

I also work weekends and holidays :) :) :)

05/25/2008 10:16 PM by George Souto (McCue Mortgage Co.)


Excellent point!!  If a home is priced right and shows great (ahem, Staging, anyone?) then IT WILL SELL, and probably quickly, even in what the media refers to as a miserable market.

05/26/2008 07:57 AM by Tori Lynn Ross - Omaha's Premier Home Stager (Ross Designs, LLC)


We are still having multiple offer situations on properties here if they are well priced, great condition, and great location. My buyers are ready to make offers the day we look at places. Just in case we happen to find that right house!

Best,

Scott

05/26/2008 12:13 PM by Scott Cowan -Tacoma & Pierce County Area (Terry Wise & Associates)


Frances- I'm seeing exactly the same thing here... it's hard to explain to buyers... until they have an offer rejected.

05/27/2008 07:56 PM by Chuck Willman, Arizona East Valley RealtorĀ® (Gentry Realty)


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Real Estate Agent: Frances C.  Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)
Frances C. Rokicki, Broker~Mentor,CRS
Bolton, CT
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