What's my house worth? Ummmm....

By
Real Estate Agent with Atlanta Communities 303302

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.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (4)

Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Thinventory is definitely present here also and we are seeing the same higher than asking price offers here.  Great blog, thanks for sharing!

Jan 04, 2021 07:17 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Some tons in our area are working on 1 month of inventory, which means that which is priced right will sell quickly

Jan 04, 2021 04:52 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Peter, that is a common scenario I think in many cities right now.  Denver has so few listings!  

Jan 06, 2021 07:38 AM
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Peter, we are seeing the exact same thing in our market and have actually built in a "buyer crazy factor" above the comp list price because of the voracious demand by buyers!

Feb 02, 2021 07:30 AM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?