I showed properties yesterday to a client who is looking to stay under $150,000. That would have been near impossible to find in days gone by but we were able to find several to look at. We have previously submitted an offer on a property that has subsequently been foreclosed on and the offer was rejected.
Back to the drawing board. Yesterday we saw 4 decent homes. They all had good space and were in various levels of "needing TLC", however, none was in horrendous shape. Two were bank owned and two were short sales.
We get to property #4 and from the minute we opened the door I knew she was in love. It was easy to see why. This home was move-in ready - no work needed. It had plenty of space for her and was still well within her budget.
We agreed to meet today to get the offer done so that she would get a chance to talk to her lender and finalize some things today.
Of course, as luck would have it, this is one of the shortsales. Yesterday when I checked there were already 2 offers on the property.
Currently there are 2 additional offers that have been submitted since yesterday.
We are preparing her offer right now. Hers will be the fifth registered offer on this property.
Now we just have to hunker down and wait 5 years for the bank to let us know which of the 5 (if any) they are going to accept.
Wish us luck!
By the way, did I mention that this is my first client who came about because of my activerain position in Upper Marlboro?
UPDATE: There are now 6 offers. Should be fun!
Dr. Stacey-Ann Baugh
Long & Foster Real Estate
www.staceybaugh.com
staceyannbaugh@gmail.com
240-481-3565 (C)
301-924-1100 (O)
FINALLY! A DOCTOR WHO MAKES HOUSE-CALLS!
Hang in there. Short sales are the best buy on the market.
Best of luck to you guys, I hope it all works out. We have started to see quite a few multiple offers here.
Good for you....I got two full price offers on my listings in the last several days.....that market seems to be back in swing in 2009.
Stacey-Ann,
First of all, congratulations on great posts that generated your AR lead!
I think you must have gotten a home that the listing agent understands that in today's market, to get a home to sell the list price has to be competitive! Good luck to you in getting through not only a multiple offer situation, but a short sale at that! In the words of Frank Costanza,"Serenity Now!!"
WOW Stacey-Ann ! Wonderful that this buyer found you because of ActiveRain!! I love to hear those stories.! Second,I do wish you luck on the Short Sale and I hope you don't have to wait 5 years!!
Congratulations on the AR referred! I just got a buyer referral this week, compliments of AR. Let us know if she gets the home of her dreams.
I'm seeing a lot of properties going to multiple contracts. Sellers are pricing things below market or pricing them right and a lot of people have withdrawn their homes from the market to give them a rest.
It comes back to the basics. Well priced homes sell quickly. Good luck with it.
Congratulations on your AR lead! Very exciting! Best wishes to you and your client with the offer.
Lenn - that's why we are even throwing ourselves into the fray.
JL - thanks, I guess multiple offers are a good sign
Julie - congrats. I sure hope its back in swing
Jen - Serenity Now indeed
Mary - I hope its not 5 years myself
Connie - congrats on your own referral. i'll keep you posted on how it goes.
Julie - some of the inventory is so horrible that when a good one comes up its a feeding frenzy
Ellie - so true
Rebecca - thanks. I hope it goes relatively smoothly.
I hope it works out for you. Our market was busy this week-end. I have 4 offers on my desk and I'm pretty sure 3 of them or going to work. Ofcouse it has been a long dry spell but now I'm ready to roll.
Bank owned, and short sales seem to be the hot commodity. There are a few instances of multiple offers here too, but it tends to be on the properties that are priced aggressively.
Good luck with your offer.
Judy
It can happen....Our market is still pretty stabe so this is not uncommon!
Stacey-Ann- Congratulations! It's really great to hear that even in tough times, people are having success because of their work here on AR.
Stacey-Ann, I received 2 offers on one of my Pennsylvania listings last week, and it is not a short sale. My sellers ratified one over the weekend.
congrats on the client from AR. This price range is hopping here too. People just don't realize that not all market ranges are "buyer's markets" Good luck with it.
Stacey-Ann
I just got a rejection from a back two weeks after we went binding on another property. Total time from offer to rejection: 4 weeks. I will never understand why it takes a month to say "no!"
Connie - congrats on the offers
Judy - short sales are definitely the trend here - unfortunately
Pattie - good for you with the stable market
Ilyce - it was great to have my blogging begin to pay off
Rich - congrats. I bet your sellers were excited.
Paddy - There is definitely good activity in the lower price brackets
Richard - I can't figure out why they can't say no sooner. Doesn't make sense to me
Stacey-Ann, first of all good for you on getting you client through ActiveRain. I hope it works out for you.
Stacey-Ann Baugh- Congratulations on your Active Rain client Stacey? Did you blog about it? If you did,I missed it. Great to hear that people in Prince George's County Maryland read blogs on Active Rain. Great post.
Stacey-Ann - Congratulations on your Active Rain lead! I hope your offer is accepted and that the wait isn't as long as anticipated... :)
Hi Stacey,
Good that you got the offer. Good luck!
All the best!