Agent2Agent in Seattle>Question Details

Bryan R. Lov…, Other/Just Looking in Lynnwood, WA

Who, in the past month, has been part of a multi-offer transaction?

Asked by Bryan R. Lovell, Lynnwood, WA Wed Apr 15, 2009

In the past 3 weeks I have now been part of THREE multiple offer deals. All of which have been in the "bargain" pricing but I am wondering out of the agents here in WESTERN Washington, who else has been running into this. If you have lets hear the news. I belive with more and more of this going on, there is a good chance that our market is starting to see a good recovery. Also I have noticed the inventory between this and last year actually decreasing! :) Good signs of an improving market.

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9
Hi Brian,
I am in California and In the past three months I have been involved in 4! One of the transactions took the seller completely OUT of Short-Sale Status because the offer was higher then the amount owed on the property!
0 votes Thank Flag Link Mon Jul 27, 2009
Hey Bryan - I have as well. It is definitely in the the lower price ranges, but it is happening:)
Web Reference: http://www.cooperjacobs.com
0 votes Thank Flag Link Thu Apr 23, 2009
I have a bunch of times in the past month. The market is moving again and it takes 1 or two for the buyers to get the hint that it is not 3 months ago when you could lo-ball. It is a good thing!! Now if prices would start to rise again....
0 votes Thank Flag Link Tue Apr 21, 2009
Yup, it's happening--Weird, considering some of these homes have been on market over a year. In the last week, I've been part of multiple offer situations in Kirkland, Lynnwood and Bellevue.
0 votes Thank Flag Link Fri Apr 17, 2009
We've had two of our listings sell with multiple offers recently. Neither home was terribly exciting, but they were bargain-priced in desireable in-city locations. We literally had swarms of people viewing one of the homes which sold in two days. There are definitely buyers out there when you hit the right price points.
0 votes Thank Flag Link Thu Apr 16, 2009
About two weeks ago, my clients were in a multiple offer situation as buyers. Even though the home was priced over a million dollars, we still made an aggressive offer and "won". The home was on the market for just over two months, so neither one bid the price up. It really came down to better price (but still less than asking price) and financial stability of my buyers.

--Rebecca
0 votes Thank Flag Link Wed Apr 15, 2009
I really should ask for all areas what is happening. Thanks both for the response so far. I hope to see a few more agents get on here and give there take on things.
0 votes Thank Flag Link Wed Apr 15, 2009
It's happening a LOT now on well-priced homes. I have clients in Ballard and Capitol Hill who have been involved in multiple offer situations this month. After a significant price drop, lots of buyers got involved. It's not just in the low end of the market, either, one of these is at $650k.

Homes are definitely starting to move. I wouldn't say there's any sure sign the market is on it's way up, but stabilization looks more likely.
Web Reference: http://SeattleHome.com
0 votes Thank Flag Link Wed Apr 15, 2009
I'm not in your locale but have experienced two multiple offer deals this past month. I'm in Palm Beach County, Florida.
0 votes Thank Flag Link Wed Apr 15, 2009
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