Still think the market is dead and no one is buying a home? Think again!
I sat on an open house this past Sunday in Chevy Chase, Md. near the DC line. The home belonged to an agent in my office so she asked me to sit for her. The home had been nicely renovated about 12 years ago and the landscaping was beautiful.
They listed the home just slighly below what they thought it was worth in a effort to get alot of feet in the door. Oh did I mention it was over $1M?
I opened the home at 1pm on Sunday and the feeding frenzy began. I could not even keep track of the number of people/parties that came into the home, stayed for hours in some cases and wanted to buy this house.
There was so much interest prior to the open that the owner/agent decided not to take offers until the Tuesday following the first and only open. I personally had the opportunity to write 2 offers for this home from open house guests that did not have agents and fell in love.
There were 17 offers in all and each one escalated well beyond the $1M list price. Offers came in all shapes and sizes. From conventional financing, to free rent back, to buyer paid closing costs to all cash and no contingencies! I had the highest offer but the contingencies became the deal breaker.
I guess it is safe to say, in the Washington area anyway, that great houses - priced right are still very much in demand!
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