Multiple Offers

The attached flyer is the latest output from the California Association of Realtors regarding the increased activity in the real estate sales market.  Over the last three years, nearly 50% of the sales  in California have involved multiple offers on the property.  This is another in the continuing reports of good news for the California real estate market.

As I am writing this column, I have two transactions on my desk with multiple offers. So I can speak first hand to the  validity of   the    flyer.   Once  again  the  low   inventory  and  low  interest  rates,  combined  with  a  large  number  of qualified buyers has created a fast moving market.  If you had a hard  time  selling a property in the last 18 months, this may be the time to make  a  move   and   sell.   One   caution,  just  because  we  are  getting  multiple  offers, does not mean  that prices are going up.  Price  is still the key.  Properties that are priced too high are  getting no offers or  very  low-ball offers.  However, if  a  property is  at  the  proper  price  point,  you can expect a good offer or in up to 50% of the cases even multiple  offers.

As always, your questions and comments are welcome.



Posted by: Larry Smyth

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