Multiple Offers!

    On a weekly basis people ask me, usually with sad eyes and a concerned look, how the market is doing and how I’m fairing as a Realtor. I almost laugh at this now. They’ve heard so much negative national news that they just assume the market in Nashville has gone to the dogs.

    I’m here to tell you that is far from the truth. From the sound of the news, you would think not a single person is even looking to buy a home. However, over the last 3 weeks alone, I’ve had 3 multiple offer situations on my listings (I have 8 listings now, 4 of which went under contract in the last three weeks, 3 of them selling in multiple offer situations).

    A multiple offer situation is where more than one person wants to buy a property at any given time. Everyone is aware there is another offer on the table and those potential buyers come forward with their highest and best offer, oftentimes resulting in a full price offer or higher. I had this happen with a $220,000 house in Bellevue, a $220,000 condo in Belmont-Hillsboro, and a $425,000 house in Belmont-Hillsboro. All sale prices were higher than previous comparable sales had sold for, meaning prices were still rising.

    Despite what you may hear, experienced agents and teams are still producing successful results for their clients, regardless of whether they’re representing buyers or the sellers. So, before you say one more time that you heard the market stinks, turn off the television, put down the newspaper, and talk to someone experienced who makes a living off of real estate, in the good times and the “bad.” I think you’ll have a slight change of heart. Who knows, by the end of the conversation you may be ready to buy or sell your house!

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    One Response to “Multiple Offers!”

    • Newell Anderson

      Written on

      Mark and I have also experienced an increase in the number of multiple offer situations on our listings over the last 45 days in various price ranges. Seems that some of that “buyer hesitation” we saw last year may be going away. – Newell

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