Our listing on Oakridge closed escrow today at 27% over the list price!
We had 18 written offers, and only one of them was cash. There were 17 parties were willing to pay the list price or higher, even with mortgage rates around 7%!
I did what was in effect a reverse offer and raised the list price from $995,000 to $1,150,000 once offers started coming in. Then we asked those who were willing to pay at least that much to submit their highest and best offer.
Five parties were willing to pay over $1,200,000, and the winner paid $1,265,000!
The pic above was the street view when we rolled up in February. It took until the middle of October to list it because we waited until everything was perfect and ready to sell – in this market, you have to!
Here’s me discussing whether it was under-priced:
Impressive. I hope I don’t have to compete against you 🙂 Seriously.
I recall in your 1st post a $1.5M number was being considered?
That was likely 7-12 mos ago when rates were almost sub 3% and the frenzy was quite hectic?
And then there was the guy on your initial post bashing your strategy and hating on your real world experience – maybe he will post up?
Be like Doug!~ Loved that man!
Cheers Jim!
You did an awesome job of clean and show. I’d bet the sellers netted many times the prep costs. How did you get the neighbor to put away their trash cans?
Congratulations, very nice house + smart game plan on the sale.
Thanks Shadash and Happy Thanksgiving to you and the fam!
Love the tactic of increasing the mls price once you have an indication of interest. Helps to elevate the entire field of buyers while simultaneously weeding out unneeded surplus offers.