Friday, August 07, 2009

Real estate gone wild!

Local real estate was so giddy with excitement this week that it pulled up its shirt and flashed us. Seriously, this week was the busiest I've had in a long time, and Wednesday and Thursday were the busiest days I've had as a Realtor ever. Let's save the reasons for another time and look at my numbers:
- Number of people at my Sunday open house on Birmingham: 80+. Number of people who attended the Lincoln open house that a colleague held: 100+.
- Offers on my listing on Lincoln by Tuesday: 6. Number of offers at or over full price: 4. Sellers accepted an offer substantially over full price.
- Offers on my listing on Birmingham by Tuesday: 5 -- one accepted at full price. And these listings were not deliberately underpriced at all.
- Number of offers previously submitted by prevailing buyers on the Lincoln house: According to their agent, 31. Anymore, it seems that buyers are submitting eight or nine or nineteen offers before they get one property.
- Of all offers received, number that were offering less than 20% down (and yes, I ask for proof of funds to close): only 1.
- Offers written by me for clients this week: 2.
- Offers written that were then accepted: one (yay!). The other offer was one of 11, and even though my buyers came in $40k over asking, they were still $60k from getting it.
- Transactions that appeared to be falling apart by mid-week: 3. All transactions look solid now.
- Problems with lenders: 1
- Problems with appraisals: 1.
- Unnerved clients: everybody.
- Realtor who wished this week that she were paid by the hour: 1 and that's me.
- Drinks needed: plenty.

1 comment:

  1. Judy, I really enjoy your blog. Your posts are unique, varied and interesting, but this post is exceptional; the title and photo extremely imaginative.

    There is definitely a shortage of realistically priced homes on the market, which likely contributed to the success of each of your open houses.

    I too am just beginning to experience appraisal problems and am not yet certain if we will be getting these inexperienced appraisers and their management companies to correct their erroneous information.