Is Seattle's Real Estate Turning Into E-Bay? - Green Lake Loop

By Molly Cartwright, Realtor, Cooper Jacobs Real Estate, Molly@CooperJacobs.com, 206-841-6800, on January 19th, 2013

Is Seattle?s real estate turning into E-Bay?

It?s a fact that Seattle?s real estate market is looking more like spring time in the Pacific Northwest; not the quiet winter month?s people tend to expect.? Buyers are out in full force and it?s not unusual to have 100 buyers through a Saturday or Sunday open house.? This is simply due to supply and demand:? low inventory of homes for sale.? Are buyers frustrated or has it become the norm?? Is Seattle real estate turning into E-Bay?

I couldn?t help but smile when my client asked me if the property I was showing him was going to turn into an E-Bay auction.? The property was a luxury home and on the market for less than 24 hours.? I simply told him ?yes?.? I then followed by ?but what do you have to lose??? If you don?t try then you?ll never know.

Here?s the deal:? buyers will either see a new listing (priced accordingly) and the listing agent delays reviewing any offers after 6 days of market exposure.? Or buyers will see a new listing where the listing agent omits this remark and its first come, first serve.? I?ve sold several homes by just being first in this instance.? It saves buyers a lot of money and anxiety.? Thankfully I?ve had buyers who are accessible and are motivated to meet me at the property very quickly.? If you run into the first scenario, however, chances are the property will most likely go to ?the highest bidder?.? So how do you get there?

Have a buyer?s agent who is on the ball and can educate you about the market.? I?ve seen things selling for about 7% over list price or about $50k.? Obviously buyers need to have their finances together.? I haven?t seen an FHA in a long, long time.? Everything is conventional or cash now.? Good thing interest rates are crazy low right now.? Get the home pre-inspected IF IT MAKES SENSE TO.? If it?s a short sale, probably don?t need to get it pre-inspected.? Buyers: if you can?t go enough above the list price (and this is where a good buyer?s agent comes in) then don?t waste $300 to $500 for a pre-inspection.? There are other terms and conditions and of course every situation is unique.? Feel free to contact me if you?d like more market conditions or making your offer stand out.

I don?t see buyers getting frustrated, at least not the buyers I?m working with.? I see more buyers making more offers and if I didn?t know better, I think they?re enjoying the excitement.

Oh and my client with the E-Bay question got the house of his dreams, with multiple offers and his family moves in next month.

See ya next time,
Molly Cartwright, Broker and Green Lake resident
molly@cooperjacobs.com

direct? 206.841.6800

Source: http://www.greenlakeloop.com/2013/01/19/%EF%BB%BFis-seattles-real-estate-turning-into-e-bay/

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