My second blog…. Here goes nothing!
Here is an example of what is presently happening on my Lake Geneva area market…
There’s this property that’s been listed since November of 2009...We began with an asking price of $399,000, which was a little below market value with the most recent closing at $425,000. The property went on and off the market a few times over the years, while slowly chasing down the market, like many sellers do.
Numerous price adjustments later, and no offers; again in late 2011 the time had come to review the inventory and determine a list price for the upcoming season. It was the first time in a few years that felt like
Taking everything into consideration, a list price of $299,900 was placed on the listing. This is a 1250 square foot 2 bedroom condo just a couple of blocks to the beach.
No recent updating...But, it was turnkey furnished and had a nice nice pool area and a rewarding rental history.
Well, not one, two….but THREE offers came in on this property Multiple offers?!?! When was the last time you've heard of "multiple offers"?
Currently there are 78 condos on the market in Delavan priced at or below $279,900. Only 1 of them is listed as a short sale. In the past 12 months there have been 34 closed sales ranging from $30,000 to $300,000.
It seems as if the market truly is getting better. Have you experienced any multiple offer situations lately?
Have a great week!!
Comments(4)