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A Bidding What???

By
Mortgage and Lending with VanDyk Mortgage

So I was visiting my Dad down on his farm in Georgia over the Easter holidays. I received a call from Lori Crawford who is an extraordinary Realtor with whom I do business. She said, "Brian, I need your help. I've got a bidding war going on over a property." The first thoughts in my head: "You have a bidding what??" Haven't heard that term in a while! But Lori was contacting me to see how much higher her clients could bid on the property based on their file which I had pre-approved.  And it was because she was representing one of the parties in a bidding war!!!

This does go to show that if people price their home to move, then so shall they move...on, that is...to another house!

So while everything isn't fixed in this market, stuff is happening! The market is not back to true normalcy but we have activity! And let's face it, it took a long time to get here; it will take a while to get back! But I do like the fact that I got a phone call on a weekend because a great agent was in the throes of a bidding frenzy! A step for certain in the right direction....

Comments(6)

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Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals

amazing it's happening all over again. It seems like a lot of under priced listings are getting a ton of action!

Apr 16, 2009 07:18 AM
Colleen Lane
Kennewick Richland (and West) Pasco WA Homes For Sale - Kennewick, WA
Realtor(r) 509.438.9344 www.LaneRealEstateTeam.com

We had a bidding war recently on one of our listings.  Although cool, I wondered if the seller thougtht we priced the home to low.  I don't think we did.  ;)

Apr 16, 2009 07:21 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

We have been involved in more owars now than we were 3 years ago. At the right end of the market of course

Apr 16, 2009 07:26 AM
Anna Matsunaga
Team Momentum Keller Williams Realty Tacoma - Lakewood, WA
Seller specialist, Certified Negotiation Expert

I have several properties with multiple offers and back ups right now, it is just a matter of pricing right, there are so many overpriced properties now.

Apr 16, 2009 07:49 AM
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

We see this happening here as well -- well priced homes that are nice get multiple bids and prices bid up.

Apr 16, 2009 04:22 PM
Brian P. Forrester
VanDyk Mortgage - Palm Harbor, FL

@Richard - Underpriced or correctly priced listings are getting action?

@Colleen & Joe - Your seller should think you gave them great service!

@Charlie - Glad to hear you are experiencing this too.

@Anna - Exactly...correctly priced properties move.

@Bob & Carolin - Thanks for stopping by!

Apr 18, 2009 03:32 AM