How Much to Offer For a Mountain View Ca Condo With Multiple Offers

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Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/VR2

Mountain View condo multiple offers

Anyone trying to buy a condo in Moutain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View condos sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Mountain View condo multiple offer situation and not overpay?

The answer is not simple, and sometimes it is not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Mountain View condo in a multiple offer situation,

1. In my opinion the most important thing is, how much is this condo worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this condo compared to market value? If the condo is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variable, and the market is a moving target, but a good Mountain View real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Mountain View listings? Does the agent over value a condo to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Mountain View real estate agents like to do.

In the end, the final offer price and terms will be your decision, but if you have a great Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View condo multiple offers.

If you have any questions about buying or selling a condo in Mountain View please feel free to contact me.

 

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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Rainmaker
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Team Honeycutt
Allen Tate - Concord, NC

Multiple offers seem to be a common thing these days. The hints you gave us are very helpful and should help in making a decision as how to decide what to offer.

Betty

May 16, 2013 01:59 AM #1
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

Thanks Betty! It takes a lot of knowlege to understand this market.

May 16, 2013 02:02 AM #2
Rainer
162,575
Alan Harris
Keller Williams Realty - San Diego, CA
San Diego Real Estate Broker with Keller Williams

Hi Marcy,

Receiving several offers can be overwhelming for sellers especially first timers. These are great tips in handling those situations.

May 16, 2013 02:47 AM #3
Rainer
234,697
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Marcy - great advice - offers over asking are the norm in many price ranges and areas - buyers also need to understand that as prices rise 1-2% a month in many areas that making a good offer now may seem very smart 12 months down the road. Regards Dave

May 16, 2013 02:57 AM #4
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

THANKS alan.

David you are right. I have a ciient right now who bought one of the few remaining short sales in Jan for $295,000. It is now worth $350,000. She only paid 5K over list but it was not in Mountain View.

May 16, 2013 06:00 AM #5
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