When to Turn the Home Buyer Offer Faucet Off?

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Real Estate Agent with RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate
https://activerain.com/droplet/4drl

When to Turn the Home Buyer Offer Faucet Off?

There is one thing about home offers that every home seller loves...and it is multiple home offers for the same property.  So many offers to choose from, When to Turn the Home Buyer Offer Faucet Off? so many conditions, and all with enticing home prices.  It is rare that a house for sale in a RI coastal real estate home generates this kind of activity when home inventory remains at 11 months.  Yet the seller is thrilled but asks can we turn this home buyer offer activity faucet off now?!

It is your choice as the home seller to say when!  So in this North Kingstown real estate market what made this house so different than all the others on the market?

- It is the home price which is priced to market and sell

- It is condition of the home

- It is the location

- It is the school system

- It is the living space

All important points when home buyers are coming out from within the igloos of winter to find their special home.  You can not miss the mark as a home seller in this real estate market if you price right, maintain the condition of your home and have the right, desirable location to buy into.  

The amount of activity on this North Kingstown home sale was unbelievable, I have to admit.  Perhaps it is my midas touch as the seller tells me!  Not sure about that but I do believe my marketing, video tours and pictures contributed to the immediate outpouring of home offers.

When to Turn the Home Buyer Offer Faucet Off?

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Ginny Lacey Gorman is your go to Rhode Island waterfront real estate listing agent for RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information.  Email her at ginny@RiHouseHunt.com to make an appointment to discuss your real estate needs today.
 
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  So feel free to search for RI Homes for Sale.  When you are in need of a real estate specialist for your buying, selling or relocating needs and an internet savvy Realtor® who sells houses in this real estate market call Ginny at 401.529.7849.
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This blog © and its contents is original to Ginny Lacey Gorman

the RI waterfront Realtor of Choice

 

Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.

 

Looking for a knowledgeable Rhode Island Real Estate Agent?  Let me GOOGLE one for you!

            

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Rainer
408,723
Dan Hopper
Keller Williams Realty Downtown LLC - Denver, CO
Denver Realtor / Author / Advocate/Short Sale

Wow, Ginny, when you are in a housing market that has 11 month inventory, it is very unusual to have this kind of offer activity on ONE listing.  It must be priced right, and very desirable for many buyers.  You are right in believing to "turn off" the offers.  There really does come a point when enough is enough, or the Seller will have difficulty in getting closure on it.  In situations like this, our real estate attorney creates an amendment to goes out to the top 3-5 offers, with the Seller's counter on price and other conditions to all of those offers.  WIth the ability to choose the best offer based on price, cash vs finance, lenders involved, any contingencies, etc.  The offers must respond within a time frame and understands the seller's decision process.  It works on multiple offer situations.

Mar 20, 2014 09:51 PM #1
Rainmaker
651,152
Bobbie Smith
Stroudsburg, PA
570-242-1891

Ginny, These are the stories we love to hear, especially in a Buyers Market. Congratulations!

Mar 20, 2014 09:53 PM #2
Rainmaker
1,518,592
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

I wonder how the winter will impact the spring?  My guess is as soon as all is thawed the buyers will come after the homes priced right. The others may be there in the fall!

Mar 20, 2014 09:54 PM #3
Rainmaker
5,037,318
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Ginny....when one is dealing with an 11 month number of homes for sale, the price had better be right on target....that's a deal.

Mar 20, 2014 10:01 PM #4
Rainmaker
694,665
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Ginny,

Could this be a floor plan issue? Some homes have a funky layout and confusing interior design. Just sayon'.

Have a good day in North Kingstown.

Best, Clint McKie

Mar 20, 2014 10:05 PM #5
Rainmaker
1,794,077
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Dan, very wise advice...everyone knew here that many offers were coming in just because buyers were stacked up together just to get them through the house!

Bobbie, it is so unusual considering the market!

Barbara, it was priced right an based upon comps...surprised all of us!  thanks

Mar 20, 2014 10:05 PM #6
Rainer
191,102
Sarah Lynn Jaskowski
Williamsville, NY
House. Home. Today.

One of my listings is thrilled with the buyer faucet being on right now.  Tons of viewings and a few offers coming in this weekend.  On the other hand, I have a buyer that wishes she was the only droplet coming out of the faucet.  So many multiple offers and homes selling in days right now... I'm getting to experience both sides

Mar 20, 2014 10:10 PM #7
Rainmaker
2,676,856
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

It will be interesting to see how things evolve as more houses go on the market.  I hope they decide quickly.

Mar 20, 2014 10:12 PM #8
Rainmaker
790,129
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
It's always interesting to see this kind of activity - and up to the seller to determine when....
Mar 20, 2014 10:13 PM #9
Rainmaker
4,106,522
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ginny, what a great problem to have!   It can be daunting for the Seller to decide which offer to accept.    Great job Ginny!

Mar 20, 2014 11:01 PM #10
Rainmaker
97,117
Jimmy Williams (352) 874-2354
Classic VI Realty - Mount Dora, FL
Lake and Western Orange County Real Estate Expert!

These sellers must be delighted with so many offers to choose from.  Good job Ginny!

Mar 21, 2014 01:58 AM #11
Rainmaker
1,794,077
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Lucky, lucky is all I can say for these sellers!

Mar 21, 2014 05:21 AM #12
Ambassador
3,983,177
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Ginny, It can be overwhelming and too much can be too much. I hope it all works out

Mar 21, 2014 01:02 PM #13
Ambassador
3,821,853
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

 

Ginny all those points if followed end up in a home selling quickly

Mar 21, 2014 01:12 PM #14
Rainmaker
186,422
Kathy Smiley
Rodeo Realty ~ Fine Estates Westlake Village - Westlake Village, CA
Westlake Village, CA - "Making YOU Smile!"

Great marketing plus a worthy property = Success!

Mar 21, 2014 04:23 PM #15
Rainmaker
2,309,913
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Ginny: There is little doubt you outstanding marketing helped generate buyer interest in this property...your sellers were wise to choose you to represent them to get their property sold

Mar 21, 2014 06:37 PM #16
Ambassador
2,758,551
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good morning, Jinny. You do such a good job of marketing in your area. Is it any wonder that you are among the top real estate agents?

Mar 21, 2014 07:07 PM #17
Ambassador
4,012,968
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Ginny

At some point you have to say enough is enough. But it's nice to see that much activity and hopefully a positive finish to the process

Best wishes for a successful transaction

Jeff

Mar 22, 2014 01:32 PM #18
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Rainmaker
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Ginny Gorman

Homes for Sale in North Kingstown RI and beyond
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