So, today, memories of the good old days.  I came upon a bidding war. A property in Hartsdale, New York had been on the market for a while, a couple of months and no offers.  My buyer has been reading all of the hype about what a terrible market this is.  Properties are sitting, rates are low, buyer's have loads of choices and it is now a buyer's market. So we negotiate but not a lot.  We put in an offer at 3% less than the asking price.  It is hard for buyers reading what they are reading to come in with asking prices.  This is the long awaited market that buyer's have yearned for.  Seller's have had to lower their prices and they no longer can dictate what price and terms of a deal. Well, guess what.  While for the most part it is buyer's market a buyer can get caught up in a situation where the price is just right, there really isn't that much inventory in a particular price with all of the bedrooms and baths that they might want and whoops, along comes another buyer.

I am glad it is no longer the frenzied days of the past where seller's dictated to buyer's what they should pay.  I like that buyer's get to be heard, get to negotiate a bit more and issues in houses can be discussed.  No take or leave it.  Seller's now need to listen and accomodate the buyer's a bit more.  Or so I thought.

 

                      

 

     


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7 Comments on A Bidding War - Can You Believe it?

MAR
30
2007
 What happening is that it's getting warmer so the buyers are coming out.  As the population increases there will always be buyers and sellers.
8:15pm • #1
272,372 Points 4 Featured Posts Outside Blog
Hi Miriam - We've seen a few multiple offer situations here in Connecticut, too.  I'm finding that homes that are priced right are still attracting attention.
8:19pm • #2
463,755 Points 1 Featured Post

Spring has sprung in New England and we've had some war, sunny days.  Lately more people are thinking of moving so things have picked up.  I've found that more people have been looking for a longer time and are waiting and READY to go for the house they want when they find it.  That , I think is the reason you find this kind of attention on a certain house every now and then.   

 

Patricia Aulson/REALTOR/Seacoast NH & ME 
8:33pm • #3
GOOD FOR YOU!!!  CONGRATS ON THAT!  Those are the good ol' days but they do happen every now and then!  Good to be on the receiving end...
STAY POSITIVE!

Tahoetravis
8:34pm • #4
We have a couple of good examples where a unique property has attracted quite a bit of interest.  Not a full fledge bidding war but close.
9:04pm • #5
MAR
31
2007
2 Featured Posts Localism Sponsor

I have been seeing multiple offers on my listings as well as listings my buyers have put offers on. I am glad that the buyers are experiencing this because too many buyers have been putting in low bids and not listening to what seasoned agents are saying that sellers have dropped a lot and they are not dropping any more. I have had a few buyers lose out on their bids because they were too low, now they learned and I am glad to see them being smart with their offers. So yes it is good for buyers in this buyers market but some of them have been getting way too caught up in what they read and I see so many low offers, I just got one today, $85,000 under asking from another agent, personally I feel it is the agents fault for not educating their buyers, my sellers response was "no reply" and we left it like that.

I see busy times ahead of us in NY, hope it picks up and stays up!
8:09pm • #6
JUN
17
2007
Hi Miriam, thanks for inviting me to Active Rain.  Interesting story.  Buyers need to beware not to assume that ALL properties are overpriced.  I have seen buyers(including one of my own) lose a property that was perfect for them because they waited for "the next price reduction"  that they incorrectly  assumed was sure to come.  "Poof"  the house was sold to someone else. 
Tom Consaga
1:27pm • #7


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Miriam Bernstein REALTOR® New Orleans Real Estate

New Orleans, LA

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RE/MAX N.O. Properties

Address: 8001 Maple Street, New Orleans, LA, 70118

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