I was just reading a blog by Joe Jackson out of Columbus, Ohio - he wrote a blog about multiple offers, lowballing or stepping up to the plate offers. I concurred with him about the fact, that the majority of us as Listing agents (full time), know how to price a home at a good price and are pricing it to sell not to sit... Austin (Central Texas) is experiencing this phenom right now. Houses are selling as fast as you can put them on the market (as long as they are priced right).
Recently, I have been helping a young man find a home. Our budget is between $200,000 to $300,000 in the heart of Austin, close to the Arboretum and certain other qualifications. Thus far, we have made 7 offers on 7 different properties and lost out 6 times to multiple offers and over bidding the list price. The 7th time, we were successful because we offered $11,000 over asking price. This home went in less than 8 hours and in addition to our offer, which was accepted, they have 2 backups. It is definately no longer a Buyer's market, it is a Seller's Market. One home we put in an offer on, went in one hour, one hour people.
Which brings me to my point...I listed a home in Georgetown, TX last Friday. Right price, gorgeous home, has a view, yada yada. 2 showings 3 days, one offer in 72 hours low balled $20,000 less than asking price. In addition to the lowballing, they wanted all appliances, bar stools, decorative fixtures thru out the house, cooking equipment on and on. We told them thanks but hit the road. I spoke with the Realtor whom I know, "You need to tell these people that it's not a buyer's market here anymore, they just insulted my Seller." She knew and apologized saying they were trying to drive the truck - we agreed they could take that truck and....well you know what. Buyer's listen to your Realtor when they are giving you their expertise...they do this everyday - you don't.
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