overbidding: Offer dates, multiple offers, overbidding in the Bay Area real estate - 07/08/15 07:14 AM
Real estate is local. Repeat: real estate is local.
What is happening in our neck of the woods in the Bay area of California may not happen in other cities or states. And our language may also differ because we encounter different scenarios, different challenges.
When I mentioned to a realtor in another state that we typically set offer dates, she didn't quite understand what I was talking about because she's never encountered it.
And buyers are often confused when they see a list price and are encouraged to submit an offer higher than list price with bigger downpayment, shorter contingency periods, etc. For … (6 comments)

overbidding: Alameda CA --- what's happening? Is it still a seller's market? - 09/21/13 08:34 AM

In Alameda CA, it is still viewed as a seller's market because we are experiencing multiple offers at over list price in most of the homes listed in Alameda. And...as far as some markets go, an average of less than a month on the market is good news for sellers.
It's sometimes strange to hear this comment about a listing ---- "There were only  two offers, both in cash, at over list price...."  
"ONLY"? Yes, "only" because the sellers were expecting a lot more offers to review. But they were happy to get two very good offers.
It really depends … (1 comments)

overbidding: Do home buyers' agents win bids because they know the seller's agent? - 09/14/13 06:06 PM
It's true that people like doing business with people they know and like.
But when it comes to buying or selling real estate properties, how much will it help for one realtor to know the other realtor?
A buyer who has written offers on property just dropped her realtor. It didn't matter to the buyer that all the listings she was looking at were provided by her previous realtor who showed her all the properties she wanted to see, and gave her feedback and CMA (comparable market analysis) on the ones whe wanted to write offers on.  For nearly two months, … (30 comments)

overbidding: “You received ONLY ONE offer on your listing? Really?” - 08/28/13 01:14 PM
“You received ONLY ONE offer on your listing? Really?”
 
Seems like many agents are surprised when their listings don’t generate a  lot of offers on their listings. We have become so spoiled when we receive multiple offers and over bidding in a seller's market.
 
But truly, it’s all relative -- it depends on the pricing strategy and what the requirements are. For example, on my recent listings, I cautioned buyers agents that if their buyers are going to write offers for significantly over the list price, that they should prepare to waive the appraisal contingency because my sellers aren’t … (8 comments)

overbidding: Property appraised for purchase price, but loan still isn't approved. - 06/06/13 05:13 AM
In our market where over-bidding is common place, one of the challenges we face is having the property appraise for less than offer price.
As a listing agent, I tell agents and their buyers that if they are going to write an offer for significantly over list price, that they should
prepare to waive the appraisal contingency or write an addendum saying that the buyer is responsible for the difference between appraisal and offer price.  I am facing a new challenge or dilemma.
Property appraised at offer price, but underwriter wants another sales comp with sale price above subject … (2 comments)

overbidding: No photo, no description, and no show. Just write offer on short sale? - 04/15/13 02:46 PM
 
Hot seller's market = Crazy "rules"
Two weeks ago, my buyer and I encountered an agent who was handing out a WORD document to the folks going through his open house. He asked us to fill in the buyer's and agent's names and contact info, and the amount we would offer on the house. 
 
Mind-boggling!
Then he calls us later to tell us what price we have to beat. In the end, the agent double-ended the sale.
Turns out the agent is working on a restricted license. 
 
No photo. No show. No description.
Then now, as we search the … (15 comments)

overbidding: A very persuasive buyer during a seller’s market - 01/06/13 12:49 PM
A very persuasive buyer during a seller’s market
Years ago, I represented home buyers who, like the others, were constantly encountering multiple bidding situations, and then getting outbid.
My clients were relocating to Alameda CA and needed to be near a marina where they planned to dock their boat. That was one of their criteria among other things.
Marina Cove near the marinas
I knew of one such development that would be ideal for their needs: Marina Cove near both Fortman and Grand Marinas. We just lost a bid on one house that they liked. And there was not another one for sale.  
(8 comments)

overbidding: BIDDING WAR. Again? In a buyer's market? - 04/09/09 05:04 PM
It's a bidding war. True or false?
According to HeraldTimesOnline.com, "Buyers' market seems imminent". And Washington Post says, "In a Buyer's Market, the message is: fix it, or else." 
Didn't we say this is a "buyer's market" and "prices have come down". NOT! At least, not in this case.
A really nice cottage came on the market in Alameda CA last Friday. I was the first to show it. And no sooner were we getting out of the house, there was a line of agents and their buyers outside the door.
During the open house Saturday and Sunday, the place was mobbed.
It's … (13 comments)

 
Pacita Dimacali, Alameda/Contra Costa Counties CA (Alain Pinel) Rainmaker large

Pacita Dimacali

Alameda/Contra Costa Counties CA

Oakland, CA

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Alain Pinel

Address: 6211 La Salle Ave, Oakland, CA, 94611

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