I'm so tired of hearing about how flat Real Estate is these days!! REAL ESTATE IS LOCAL, folks. You can't take national trends and apply that same trend to every market. Here's a case in point.
Last week, we had a home come on the market. It's in a great neighborhood in the Greater Wilkes-Barre Market and is in decent shape for the price it was listed. I called a client of mine to let them know that this house was a great deal and she should put an offer in it. That was Wednesday.
She called me back the next day to let me know that she had driven by and was interested in seeing the inside. I called and made an appointment to see the house for Friday morning and was told that they already had 3 offers for the property! Slow market?? I think not.
We saw the house Friday morning and she decided to make an offer. The house was on the market for $102,900. She wanted to make an offer for $100,000, cash deal, inspections and closing in one week. When I presented the offer to the other agent, he told me that the price was too low at that point. They had 10 offers, 3 of which were rejected, and the price was now above list.
I went back to my client and she raised her offer to full price, cash, no inspections and closing in a week. I got the reponse back today....rejected with no counter. The bidding war is in full force and the price is well above list at this point. Who would have thought that this would happen?
The market's flat, right??? Yeah, right!!
Until next time...
My name is Andrew Trevino. I am a Realtor, working in the Wilkes-Barre, PA area, and I'm affiliated with Realty World, Rubbico Real Estate. Thanks for investing your time in reading my blog. If you're interested in contacting me, please visit my website at http://www.wilkesbarrehomesales.com/