When evaluating multiple offers, there are many, many factors that come into play – factors other than price…. I have developed a spreadsheet that helps to remove the subjectivity of the offer consideration process.Why write about multiple offers in a buyer’s market?… A listing I put on the market last month received three offers in two days. A listing I started marketing nearly six months ago received two offers on Monday.
Date Archives March 2007
Coming soon – Third quarter numbers for Charlottesville
Detailed analysis will be coming the first week of March. The numbers should be interesting.
For a bit of hyperbole …
County property assessments rose an average of 30 percent in the last two years, and if the county does not reduce the rate, homeowners will see a corresponding increase in their tax bills……. The schools are one of the main reasons developers can sell houses so well in this area, and yes, the schools are one of the reasons why real estate assessments are rising in this area. We are successful.”Ashby Kindler, principal at Stone-Robinson Elementary, said that not fully funding this year’s school budget would be a step backward.“The proposed tax rate of 68 cents or even 70 cents … threatens to take Albemarle County back, perhaps as much as 20 years,” Kindler said…. Why not advocate for a property tax break for those who own homes and live in the County?Finding balance between the hyperbole and selfish interests is one of the reasons politics are so infuriating.
The Subprime picture
A picture is worth at least a thousand words.
Charlottesville condo market poised for …
We’ll know in five years.I had this exact conversation with clients this morning. There are some condo developments in the Charlottesville area that will not be as susceptible, but more perhaps that are at risk than not. What happens to the (condo) market when buyers have to have at least 10%? Will condos still be considered affordable housing?
Rolling the dice with Buyers
I explained my philosophy on working with Buyers and went over the Buyer-Broker which I expect all of my clients to sign (certainly not on the first or second meeting, but definitely at the time a mutually-beneficial relationship has been formed!)…. While the right house may “pop up” by virtue of looking at everything on the market that remotely fits your needs/wants, there is a better way to search for a house.This is how I explained it – if you spend six hours with me today, and six hours with another Realtor tomorrow and another several hours with yet another Realtor the next day and then spend Sunday looking at Open Houses – there is no consistency, no coherence to the search process, no relationship formed…. For an example as to why one should not just jump in the car and go with everybody who wants to, see this recent email exchange with an internet lead:I neglected to ask previously – are you currently working with any other Realtors?… and then I get a call from another agent whom I respect and trust who says that he has shown this buyer lots of properties, and that he expects to write an offer in a couple of days, and how should we handle procuring cause?Sometimes the gamble works, but anything that I can do to mitigate the risk helps.
Monday links 03-12-2007
This is why I don’t use print advertising.Three great articles from the WSJ:- This is a trend worth watching and learning about – Homes of the future promise easier access for boomersBut since one in three Americans will be over 50 by the year 2010 …