When the real estate market is a seller's market - you probably expect your house to sell very quickly, and hopefully with a LOT of offers. In fact, maybe you want to have an all out bidding war
2nd Quarter Review 2016
Dated: September 11 2016
The last few months have been really busy for us in real estate. We're pretty excited to announce a new team member! Catherine (Cadee) Arroyo joined us this spring and she's been selling houses like gangbusters. One of these days we'll get around to having a new team photo taken - until then, just imagine her as the shortest member of the team.
If you remember, we set a goal of 100 sales for the year. As of the end of June, we had 66 houses under contract or closed since the beginning of the year. So that’s pretty good! But, like the saying goes, no rest for the weary, so we’re going to keep working hard.
You’ve probably heard that this is an incredible time to be in real estate. That houses are selling super-fast and buyers are competing in multiple offer situations and sellers are dancing their way to the bank. And, you’ve probably heard that NOW, NOW, NOW is the time to sell!!!
Sort of true. But, this “incredible” market has its drawbacks too. Buyers looking for houses under $200,000 are having a hard time because good houses sell very fast, often with multiple offers. As discouraging as that is for buyers – it creates issues for SELLERS too. Following are a few success stories our sellers had this quarter:
Jason & Katie bought their house in 2011 when the market was still soft. 5 years later, they decide to “upsize” to fit their growing family. We found their new house and got our offer accepted contingent on theirs being sold. After a whirlwind weekend getting the house in picture perfect shape – we put it on the market and had 2 offers in one day. The winning offer was $5,000 over list price with a few days built in for possession after closing which really helped ease the moving stress. Oh, and they made a killing in proceeds – thanks to the market being so strong.
Royce just graduated college and accepted a position in Colorado so he and Jana had to sell the home they had loved for less than 3 years. They were hoping to break even on the house. Our normal marketing plan includes announcing any new listing to our office and an agent there had a buyer ready, willing and dying to make an offer. It was a risk selling the house before we had opportunity to present to the entire market – but one that paid off. We negotiated a price over listing and kept the house “on the market” until the inspection contingency was removed. That allowed us time to collect backup offers should the first offer not work out. The sellers were able to move on schedule to start their new job and were pretty happy that they did better than break even (of course – they had a great agent!).
Jon & Brooke have been thinking about moving off and on for a few years. Finally, this year the timing felt right. They looked at some houses for sale and decided they would rather have their house sold before writing any offers. That way, they could have a really strong negotiating position. Showings were slow for the first 2 days but then the first people to look at the house – made an offer that we negotiated and finally agreed on terms. We included a contingency that the sellers had 5 days to find their home of choice. That protected them from being ousted from their home should they not find a new one. On the 5th day, we found an awesome house for them to call home and they’re both scheduled to close at the end of the month. We negotiated early possession of the new house and a weekend of possession post-closing on their old house so they’ll have plenty of time to move – stress free.
We would love to share stories about every client we get to work with, but that's just a tiny bit obnoxious. These happen to highlight some common challenges (& potential solutions) that sellers have. Where there’s a will, there’s a way. So, if you or someone you know has been thinking about selling but just hasn’t been sure because of this crazy market – let us know. We’re in the market to help our clients do what works for THEM.
In the competitive Des Moines market, Heather Wright combines client-focused service, innovative marketing techniques, and a decade of experience to make sure that your buying or selling experience is....