Westridge Listing-Cindy JonesOne of the biggest issues sellers struggle with in our current real estate market is what if we don't get an offer?  Our role as their Realtor® is to not promise that the home will sell but do everything we can to make sure that the home stands out against the competition.   Price, condition and marketing all work together to bring other agents, prospective buyers and offers to the table in our current Prince William County real estate market. 

My recent listing in the Westridge community had a steady stream of prospective buyers from the first day it went on the market.  I had to laugh when one prospect called and said we have been viewing the professional photos on the internet all week and we wondered "is it really as nice as it looks?"  It turns out the they had seen some photos of other homes but when they actually got into the house they discovered the photos had been from previous listings and the properties were not in the condition they expected.

It was a struggle to price this beautiful home as "competitive" listings included a foreclosure which was not in good condition, other homes on smaller lots and homes that were  overpriced.  One of the toughest parts of a Realtors® job today is finding the right price balance between the foreclosures and properties that are obviously overpriced.  Fortunately the sellers of this home realized that market conditions had changed and even though I sold an almost identical home to theirs 18 months ago for significantly more today's market would not fetch the same price.

With a realistic price established, an individualized marketing plan for their home outlined the last part of the puzzle was property condition.  With a look through the house a few tweaks and a reminder to make sure the house was in "show room condition" from 8 am to 8 pm the house was ready to go.

This past week we ended up receiving three offers on the property and ratified a contract on Sunday.

If you are looking to sell your home in Westridge this spring give the Cindy Jones team a call at 703-346-2213.  Let me show you how to put the pieces of the puzzle together to attract a steady stream of prospective buyers to your door.  I'll show you how the right marketing, right pricing and right condition can put the SOLD sign in your yard.

                No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213. 

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.
CJ Realty Group Woodbridge VA 

Licensed in Virginia



 

 

 

20 Comments on Multiple Offers-They Do Happen In Today's Real Estate Market

FEB
04
2009
298,459 Points 49 Featured Posts Outside Blog

Cindy congratulations on the contract.  Our market was so bad that last year even when homes were "priced right" it was tough getting an offer.  Not so anymore.  We're seeing mulitple offer scenarios again around here.
9:56pm • #1
425,063 Points 22 Featured Posts Outside Blog

Cindy - we are seeing multiple offers here as well, especially in the prices under $350K. ~Rita
10:10pm • #2
596,136 Points 70 Featured Posts Outside Blog Called Shot Master

Cindy - I don't know what your market is like but we are seeing multiple offers here too, especially in the low end of the market (200k-400k).  BUT (and that is a big but), the property does have to be priced very right; no ridiculous overpricing or it will just sit.
10:45pm • #3

Here in Tahoe we are seeing a lot of multiple offers on foreclosures because we have so few. Maby 8% of our listings are foreclosures.
10:56pm • #4

Cindy,

Yes I have notice muliple offers on listing homes.  I think with all of these foreclosures the people are fighting to get a great deal.

Some listings are several months old so when buyer first look at the pic, they want to look at the house and then when they get there they see if has not been kept up...
11:12pm • #5
1,210,448 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Cindy,

Just curious, what do you do when you get multiple offers? How you handle them? Does this situation benefit your sellers?
11:39pm • #6
FEB
05
2009
713,225 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Muliple offers were received over the weekend on one of my properties too.  This is a good sign that things may be moving upwards.  It gives us hope, doesn't it!
6:35am • #7
144,177 Points 7 Featured Posts Localism Sponsor

I only wish more sellers would price their homes to sell.  Most want to try and get that last little dime out of the price and don't really believe Realtors who do this stuff all the time (we just really want to sell it quickly to get that fast commission, right?).  Plus Zillow throws everyone into a tizzy.  I have a listing that I finally got the Sellers to agree to a licensed appraisal.  It's about $50,000 below the Zillow Zestimate but, guess what, the appraiser was there...at the house...in the market where the house is selling.

If these folks had priced it right six months ago instead of last week, they may have seen multiple offers and a price they could live with.

Congrats!
4:27pm • #8
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Maggie-it is a nice change to see a seller owned property getting multiple offers instead of just he foreclosures in our market.
7:03pm • #9
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Kenna-glad to hear you are seeing a change as well.  This home was just over 500K which makes it even nicer!
7:04pm • #10
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Donna-pricing is so tough in this market.  We had priced this home where I thought it would bring the most traffic and I prepared 3 different contract price senarios for the owners before we put it on the market.  We hit one right on the dot!
7:05pm • #11
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Brent-foreclosures are certainly dominating parts of our market as well.  Fortunately this wasn't one and the home inspection came back clean!
7:06pm • #12
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Robert-this particular neighborhood has not been hit hard with foreclosures.  There was one up the street that came on the same day but it will take more in dollars to fix up than the sales price of this move in ready home is.
7:07pm • #13
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Jon-I have an excel spreedsheet that puts all of the critical information about an offer front and center.  That way the owner can see the bottom line as well as closing dates, inspection contingencies etc up front and decide which one works best for them.
7:09pm • #14
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Evelyn-I have a few more listings that I'd like to see move now too.  Lots of traffic but no offers yet.
7:10pm • #15
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Ken-you are right that there are some on-line tools that can hinder the sales process.  Also the neighbor who says but the house down the street sold for $100,000 more 18 months ago.
7:12pm • #16
373,580 Points 40 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

In my experience, this only happens when a house is priced just right - congrats to your clients for listening to your good advice and reaping the rewards!
9:10pm • #17
FEB
06
2009
131,867 Points

Hi Cindy - Congratulations on your multiple offers.  I have seen multiple offers on REOs but not on my residential listings.  I would love to get multiple offers on one of my listings.
8:23am • #18
301,384 Points 55 Featured Posts Localism Sponsor Outside Blog

Cindy - Way to go. I have had a few multiple offer situations in the last year. It's nice when sellers take the intelligent approach to pricing.
4:46pm • #19
1,523,164 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Carol-not only realistic to pricing but realistic response to the offers that came in as well.  Now I'm trying to figure out why another listing which had 11 showings this weekend is still waiting for an offer :-)
5:22pm • #20

Login or register to leave a comment
 
Cindy%20photo Rainmaker_large

Cindy Jones-Northern Virginia Real Estate & Military Relocation Services

Woodbridge, VA

More about me…

CJ Realty Group, Inc.

Address: 12804 Marblestone Drive, Woodbridge, VA, 22192

Cell Phone: (703) 346-2213

Email Me

CJ Realty Group Listings



Listings

Links

Archives

RSS 2.0 Feed for this blog