I have been running into numerous situations where my buyer clients are losing out on the house they love! In some cases, they don't actually LOVE the house but it would really fit their needs fairly well! I wondered what the stat was for buyers around the country that were over bidding for the house they really actually can't live without: the DREAM HOME!
I ran into the following statisitc and I thought it was very interesting!
Interesting stats, Joey. From our experience, over the last 5 months, we did see situations that buyers were actually offering 15% over the list price. But, knowing some of these properties, the list price was probably 5-7% below, what it should have been listed at. Now, with that being said, we are seeing list prices too HIGH in hopes of capturing the changing market. Problem is, they missed the mark and timing of those buyers willing to pay MORE to get the home. A slow down on some of these properties is happening. PRICE is still important, and we may see offers of 2-3% over some properties, now!
I've seen many offers well over list, but they have appriasal contingencies, which really means that an appraiser will be setting the price.
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