Are you missing out on the hottest real estate market we’ve ever seen?
Richard Price, Broker.
A few weeks ago I was in the process of getting a new listing on the market. On the day that I expected our photographer to deliver the photos I was near the home, so I went ahead and put the For Sale sign up.
As I was heading back to the office the phone rang. Just that quickly another agent was calling to see if he could show the house. Because it was not yet technically listed I declined the showing and, instead, invited him to come take a look the next day.
I’d planned to list the house for $150,000 which, based on recent sales, was on the high side. Because we’d spent the previous couple of weeks preparing the house, I felt confident that we could find a buyer willing to pay that much. However, I cautioned the owner that we may face some difficulty when it comes time for the house to be appraised.
Back at the office I checked my email before getting started on the listing. What I found totally blew my mind. I had a offer from the agent who had called earlier. His clients, having only driven by the house and not seen inside, were ready to make an offer.
And, get this, it was for $160,000.
The offer was $10,000 more than our asking price!
Not only that, but once I put the listing in the MLS the phone immedietly began ringing. Literally within minutes other agents and buyers were ready make an offer. I advised everyone to submit their best offer by the following morning. At this point the buyer who had offered $160,000 sweetened the pot by removing several concessions they had requested from their offer.
This wasn’t a particularly special neighborhood, or even a particularly special house. It was a regular little house, in a regular little neighborhood, in a regular little town. And stories like these aren’t isolated to any one town or community.
In fact the same week, in another town about 20 miles away, nearly the exact same thing occurred. I listed a similar home for $150,000 and received 7 offers in the first 24 hours.
Why is this happening?
The fact is buyers are fighting with each other for houses right now, especially for anything priced under $250,000. There are way more people who want to buy those houses than there are houses available. Consider Union County, for example. As I type this there are 143 homes listed between $100,000 & $200,00 and all but 29 of them are under contract. What's more, it only took an average of 21 days for each of those homes to go under contract!
Thinking of selling? This could be your chance to name your price.
You might already have a good idea of of what your home is worth. If not, our software at MoveNCSC.com can provide an instant estimate. But be advised this estimate could be low. The market is moving so fast that it's hard for our software to keep up.
And if you're looking to trade up in value there's more good news. Although the market is still strong at prices above $200,000 prices are somewhat softer due to slightly higher availability in that price range. That could mean an opportunity to sell at an ultra-premium price, then buy at a slight discount.
If you want to take advantage of this opportunity and avoid missing out on this incredibly hot market, let's talk. Use the form below to get in touch or just give me call.
Get in touch with Richard
If you'd rather call or text, my number is 704.989.5995.