Our market in Pasadena is really starting to loosen up. Buyers are ready to buy, and now sellers seem to be gaining confidence in the market enough to sell. The key to a successful sale in this market is the appropriate pricing of the home. Our market has taken a hit, although much smaller than much of the country, and sellers must reflect this in their pricing decision. Well-priced, solid homes in good neighborhoods are selling very quickly, and sometimes with multiple offers. It is very important as a buyer to be pre-approved and have a good downpayment, so that you will be able to compete in this treacherous market. It is a great time to buy real estate!
Thank you for your question. I recently listed a home in Arcadia and received 10 offers within one week. Its sometimes challenging for the buyers because you might find a home in a nice area of Pasadena and its been on the market for a while and then one down the street has generated multiple offers! When listing a home pricing it the right price is so important and if its a little underpriced it might lead to multiple offers. Good luck on your search!
Curt Schultz, REALTOR and Architect
Lee Bothast, CN
2nd Generation Pasadena Area Realtor
International Sterling Society 2009
Coldwell Banker Residential Brokerage
Currently, multiple offers are common on any correctly priced home under $740,000 in any neighborhood. The main reason is low interest rates and low down payments. Don't know if your home is in that price range or not. I have even received multiple offers on homes priced over $1.0 million. It all depends on how it is priced and how is it marketed.
As a home seller (which your profile says you are) you need to make sure to price no higher than the mid-range of Fair Market Values. Your home must appear to be a great value to the buying public. That will attract lots of buyers and lots of buyers usually means multiple offers. Once you are in that wonderful position of having more than one buyer wanting your home, you are now in the top negotiating spot and should end up with a great price for your home. Dare to Dream.
Shel-lee Davis, CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty