Special offer

Multiple offers! Again!

By
Real Estate Agent with Alain Pinel BRE 01367196

Yesterday, I did what I haven't done in a very long time:present an offer to a seller in a formal setting, and by appointment. I was the eighth to submit an offer on a 3 bedroom/2 bath detached family home by a lagoon in Alameda. And this is a regular sale listed at $750,000.

Although my beautiful island city has not suffered the same drastic fate as other cities reeling from the sub prime crisis, we have had our share of a market softening. Nonetheless, we find that there are serious buyers who are taking a very close look at our city primarily due to its location, excellent climate, fabulous homes, proximity to San Francisco/Oakland, and good schools.

When a home comes on the market and it is priced well, people recognize the value, and bid. Early part of this year, I found myself in multiple offer situations at least three times, one of them on a house that received 11 offers. All three were regular sales.

And what is also interesting is that in many short sales and foreclosures on which I submitted offers in Oakland, San Leandro and Hercules, I am also encountering multiple offer situations.

Knowing this, I always caution my clients that to get a fighting chance, we should always submit our best and highest offer after factoring in the necessary information (comps, market situation, etc).

What is it like in your market?

Comments (1)

Sam Miller
RE/MAX Stars Realty - Howard, OH
Knox County Ohio Real Estate Specialist

I recently had multiple offers on a mid to upper priced home and it went into firm contract in less than a week from the original listing date.  Pricing and preparation are the key!

Jun 18, 2008 04:50 AM