Health & Fitness
Three Offers on One Home?
We are seeing many foreclosures and short sales. However, in some markets there are multiple offers appearing in the most unusual communities. Why is that?
In Foster City last year a town-home sold in less than a week and and also had a "back up" offer.
In San Bruno recently I represented a buyer who fell in love with a tastefully remodeled two-bedroom home. When he made the decision to move foward and present an offer, we were surprised to discover there was another offer and possibly actually two more. Rather than try to out-bid another offer, I researched the area and came up with a practical offer. We did not feel comfortable going into a "bidding war."
The first month of 2011 a Belmont home was sold with five offers. It's shocking yes, but why is this happening?
Find out what's happening in San Brunowith free, real-time updates from Patch.
There is only one difinitive answer. Make your home Look it's best, then "price it right and they will come."
In this market the sales around your home—even the foreclosures—will dictate what your home will sell for, and what your home is worth. Make sure your Realtor gives you all of the data of home sales in your neighborhood for the past 90 days. The numbers don't lie.