New Listing in Anderson Mill West near CPHS is a lovely 1-story home with 4 bedrooms. Please visit the detail page by clicking here for full information.
Who would have thought that offering 120% of asking price might not even land you in the top 10% of offers?
Yes, the market here is really that crazy. But let's look a little deeper.
Asking price is often set based upon recent relevant sales in the neighborhood. With values rising so quickly, it really matters how recently the relevant homes sold. If based upon 2-3 months past, the asking price may be quite a bit behind the current market value.
For example, we priced a home I sold recently at the value an appraiser could likely substantiate. The similar comparable home sales in the neighborhood were from late 2020 - before the paradigm shift in values began. We generated multiple offers. When the first weekend was over, an offer of 120% was about the middle of the pack.
Had we asked a higher price, the final selling price most likely would have been the same. The % above would have been less dramatic.
So why start with a price that can appraise? Many financed offers contain an appraisal waiver to help them compete with cash. Most are a full waiver. Some waive only if the property appraises at least at asking price. So asking a price that can clearly appraise reduces a seller potential concern about offers with partial waivers.
The result is the seller may have more offers to seriously consider.
If you're wondering about your situation, let's talk...
A year ago we went to Hawaii in a huge rain storm and this was one of our only glimpses of the sun before we headed home early due to weather and a new pandemic reaching the US. Hard to believe it's been a year now.
I hope the image of the sun behind the clouds reminds you that this is just a passing storm.
Hope you have a safe, healthy, blessed month!
No travel involved in this month's calendar image! Kimberly took it right in our back yard.
The recent snow felt to us like God saying, "I know it's been a trying year. Relax a little end enjoy a beautiful snow."
There were so many families out playing in the snow, enjoying each other. I think part of what the pandemic is teaching us is to slow down and enjoy the simple things.
I hope your February is blessed with health and peace and joy!
ps - as always, feel John Stapleton / Focus Realtyee to save the image for a phone or desktop background.