Over the past few weeks I have been seeing more and more articles telling "Bidding Wars" are back!
IMHO the perception being generated is false... yes the market is good (in fact very good) compared to what we have seen the past few years....but we are a far cry away from years ago when agents could just list a home for sale and see dozens of offers and write up the sale.
In fact it really is healthier to have a slow rise of pricing and the "bidding wars" we see are the result of homes that are good quality (above average) being listed at the price from a year or two back.... These are the homes that should be testing the water at small bump ups in price and what we should see is continued and steady growth which is the best thing for the market.
So Jon, like my agents say....whats the point.... point is Price the House right the 1st time...if it is above quality try raising the bar 5% or 10% and reverse is that if the house is not up to snuff don't be afraid to not take the listing if the seller doesn't want to list it for the correct price....Basic stuff, but still holds true!
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