Though I get the feeling that the market is cooling down, the good buys are still in demand.
This one in ER listed ridiculously low at $989,000, when you consider that the last two similar REOs on the golf course both listed for over $1.2 million, and one already closed for $1,256,000, above its list price.
The agent had his sign in the front yard for weeks before listing – you may remember seeing it in a video clip here? Once they got the $989,000 list price from the bank, they solicited offers first from those who had called. After a couple of days, they inputted into the MLS, and sent it direct to the contingent category.
When I called within minutes after their MLS input, the girl said they had five offers, and any additional ones would be considered back-ups. Not one to take that lightly, I sent in an offer on behalf of clients for $1,110,000 all-cash.
Five of six offers submitted were all-cash, and at least one ‘considerably’ higher than ours.
Here is a video tour: