Going Going Gone | Homes Selling ABOVE ASKING PRICE
Real Estate 101
English - February 11, 2022 21:04 - 17 minutesInvesting Business Education How To real estate orange county ron evans rancho santa margarita amy sims rsm rsm lake Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Going Going Gone | Homes Selling ABOVE ASKING PRICE
When a record low number of available homes is matched
with fierce pent-up demand, it results in an auction where
homes sell immediately and for more than their asking prices.
It is common for homes that are just placed onto the market to receive dozens of offers to purchase, pushing up home values at a rapid pace.
A WARNING TO SELLERS: Carefully pricing a home is crucial to obtaining the best outcome regarding price and terms. Pricing at or slightly above the last comparable pending or closed sale will expose the home to the largest buyer pool. The auction that follows will have buyers competing against each other to achieve success. This results in sales prices above their asking prices, and in many cases, way above their asking prices. Stretching the initial asking price considerably above the comps may still result in achieving the ultimate goal in selling; HOWEVER, it will be at the expense of not obtaining the highest and best price and terms.
00:00 Beginning
00:30 Introduction
06:49 Orange County Housing Inventory
07:38 Orange County Housing Demand
09:17 Orange County Housing Expected Days On Market
11:42 Orange County Luxury Housing
For more detailed information, send your questions to [email protected].
Ron Evans
Broker Associate
Amy Sims Real Estate Team
DRE: 01965556
949.929.2270