After hundreds of people came to see our listing on Deer Canyon Place, we received 22 written offers.
It makes people think that we must have deliberately underpriced it. Did we?
No!
Our original list price was $1,750,000, but when this larger model with six bedrooms and casita hit the market nearby for $1,899,999, we decided to raise our list price to $1,795,000.
Up to that point, we were relying on these comps to judge what a buyer might pay for our 3,084sf home with awesome newer kitchen but relatively modest upgrades otherwise – it had the original oak hardwood floors, the primary bath and three others were mostly original, and the backyard had not been touched:
The zestimate was $100,000+ under our list price the day before we listed, and mortgage rates were stubbornly above 6% which is killing the market, according to the experts. None of the 20+ agents who showed it to their buyers said anything about the price being too low.
So why would we receive 22 offers, and the larger listing two blocks away that offered a very similar value only get four offers?
It must be in the technique, and who is doing it!
Secret weapon Michele.
22 written offers? You make too much work for yourself. Wouldn’t $1.85m have eliminated half?
I’m guessing an accepted $2.04m closing.
22 jockeys bidding on the house. JTR calling the race. “And away they go”as they say at Del Mar Race Track.
Stock Option Boy jumps out to an early lead followed by Inherit Boy.. Divorced Dad is pulling up the rear. Down the stretch they come. It’s Inherit Boy, Stock Option Boy and Loaded NY Lib closing hard on the outside. Too close to call. It’s Inherit Boy by a nose at $1.96 million with a 10 day escrow and no contingencies! Followed by Stock Option Boy and Loaded NY Lib to show. Divorced Dad has pulled up limping and either will be put out to pasture to breed or be put to rest.
22 written offers? You make too much work for yourself. Wouldn’t $1.85m have eliminated half?
Maybe but go just a little too high and you can easily miss altogether. Look at the unsold listings sitting around – you can miss the mark now, when during the frenzy you couldn’t – everything was selling regardless of price.
I have the guts to price attractively knowing that Donna is willing to do the work to corral the buyers into an upward trend. Then I do the jimjamalama to find the buyer. Boom!