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Eddie Holmes, Real Estate Pro in Tucson, AZ

Fellow Realtors, we have multiple offers going on all levels, what do you see is the average offer acceptance? Is it 5%, 10%, 20% over asking price?

Asked by Eddie Holmes, Tucson, AZ Sun Jun 24, 2012

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Offer price minus list price divided by list = % increase.
The reo prices as well as some short sales are incentivized, meaning they are priced below what appraisal would be and that difference is about 16% I find. Do the comps imagine you are a lenders appraiser, then make your offer. Incentivized pricing is a great strategy providing a buyers agent even looks at the property, no less does comps.
Be diligent.
Cheers
Nancy
0 votes Thank Flag Link Sun Jun 24, 2012
I think it''s right around 10-15% over asking price, but certainly there have been situations where it has been higher than that! Crazy times in certain parts of the market, eh?
1 vote Thank Flag Link Sun Jun 24, 2012
I'm seeing about 15%. AzProperties@Ymail.com
0 votes Thank Flag Link Mon Jun 25, 2012
I would recommend that you get a subscription to the Cromford Report if you don't already have one. That system is great in showing you what is going on in the market.
0 votes Thank Flag Link Mon Jun 25, 2012
I wouild agree that there are two many variables to put a percentage on this question. If it is priced right for the area, expect multiple offers in our climate. If it is below $100K it will get a lot of attention, below $150 is also hot. With a large lot, it will see a lot of attention in almost any price range. The luxury market, over $500K, is starting to pick up and that is good to see. Price, Location and Condition are still in play
0 votes Thank Flag Link Mon Jun 25, 2012
Too many variables to give a flat percentage. For example, listing price, area, price per sq ft and etc. Safe to say, a property priced "well" will get offers quickly in today's market.
0 votes Thank Flag Link Sun Jun 24, 2012
Hi Eddie,
I'm seeing anywhere from 15% to 18%, even on cash offers. Of course, this depends on property comps in the area.

Continue to stay BOLD!!

Best Regards,
Eseosa
0 votes Thank Flag Link Sun Jun 24, 2012
Depends on how far below market value the original list price was. When I receive multiple offers, I recommend the seller accept the one that nets him the most, the fastest, with the least likelihood of the deal falling apart. The average percent above list price for the market as a whole doesn't enter into the equation.
0 votes Thank Flag Link Sun Jun 24, 2012
Depends on the property and the neighborhood comps, but I've seen a lot of bank owned properties go around 15% over lately...
0 votes Thank Flag Link Sun Jun 24, 2012
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