It's the age old question most real estate professionals hear. We are tasked with figuring out the best price we can get for your home given its location, condition, and state of the market. We are usually pretty good at this, but I have watched as time and again homes sell for much more than the are listed at.
I have had 2 homes recently that sold for more than the asking price, and within a day or 2 of going live. The first was listed at $340,000 and sold for $370,000. The second was listed at $180,000 and sold for $190,000 in a day. The $180,000 home was overpriced by about $15,000 if you go solely on comps. So what is going on?
Thinventory. The lack of homes for sale. And lots of willing buyers bidding up the prices of the few homes that are for sale. I shake my head every day when I see what homes are selling for. Multiple offers within hours, and all over list price. I have a buyer still making below list offers and he wonders why he has not been successful, despite what his agent has been trying to tell him.
If you are looking to buy right now, you need to be quick out of the gate with your best offer first. Looking to sell? You might be surprised at what your home might bring.