Bay Area

[Cusd]

I like Redfin's new real-time market update from Redfin brokers.

Nicolas Meyer- Redfin Agent, competed against 62 offers

Really? 62 offers in Sunnyvale 94087? With only 73 homes sold in the last 90 days and 48% average down payment in this area, looks like 2012 was buyer's market in comparison.

[sheriff]

A liitle bit high but not unheard of.  This one for a house in my neighborhood(scroll to the bottom of the listing) got 46 offers.

The house in the listing is one of my neighbors.

http://www.redfin.com/CA/San-Jose/3319-Swancreek-Ct-95121/home/972812

[trentblase]

Nice, so they are basically sitting on the entire home value in earnest money.

[bahomeloaner]

I noticed that some agents purposefully underprice the property. In most of those cases they get over 40 offers. If the property is priced reasonably, the offer count could be less.

[SamShuehRealtor]

Underprice often fires back. Many will not pay much higher leaving much room for 2nd guess and imagination. Often the highest offer is not what the seller looking for.

[buyinghouse]

  That's nothing! I received an offer but I wasn't selling. That's a record!

[sheriff]

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trentblase wrote:

Nice, so they are basically sitting on the entire home value in earnest money.

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Normally when you make an offer you give the agent a check made out to (fill in the blank) title company.  The seller's agent holds onto it until the offer is accepted. Only one escrow is opened.

[kelingdun]

My neighboor received an offer 15~20% over market value.   His house is not for sale, someone just knocked on the door.

He sold because he was thinking of moving out anyway.

[buyinghouse]

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kelingdun wrote:

My neighboor received an offer 15~20% over market value.   His house is not for sale, someone just knocked on the door.

He sold because he was thinking of moving out anyway.

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   He won't ever know if he sold cheap.

[sheriff]

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kelingdun wrote:

My neighboor received an offer 15~20% over market value.   His house is not for sale, someone just knocked on the door.

He sold because he was thinking of moving out anyway.

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so, that really does work sometimes!