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Just an update, but my realtor never did a brokers open house. My house got listed Friday morning, she had a traditional open house on Friday evening, and then I had 14 offers by Saturday evening. Every offer over asking, most significantly over asking. All but one buyer offered to do an “as-is” sale, with an inspection for informational purposes only (although personally, I assume that they’d want to renegotiate if a large issue crops up), and the offer I selected also waived the appraisal contingency. In the 36-48 hours from list to when I got most of the offers, I had 27 showings not including the people who came to the open house. I’m so glad that I took off for the weekend. I wouldn’t want to come and go through that.
I’ve been in shock for last 24 hours or so. I live in Midwest suburb. Housing prices here have always been very reasonable. Heck, just a couple months ago my neighbors sold their house for 10k less than my asking price. It seems completely bizarre that my cookie cutter home would get that much interest. I keep wondering if perhaps all these people went to the wrong house and are confused about the address.
Just an update, but my realtor never did a brokers open house. My house got listed Friday morning, she had a traditional open house on Friday evening, and then I had 14 offers by Saturday evening. Every offer over asking, most significantly over asking. All but one buyer offered to do an “as-is” sale, with an inspection for informational purposes only (although personally, I assume that they’d want to renegotiate if a large issue crops up), and the offer I selected also waived the appraisal contingency. In the 36-48 hours from list to when I got most of the offers, I had 27 showings not including the people who came to the open house. I’m so glad that I took off for the weekend. I wouldn’t want to come and go through that.
I’ve been in shock for last 24 hours or so. I live in Midwest suburb. Housing prices here have always been very reasonable. Heck, just a couple months ago my neighbors sold their house for 10k less than my asking price. It seems completely bizarre that my cookie cutter home would get that much interest. I keep wondering if perhaps all these people went to the wrong house and are confused about the address.
I'm in CA so my situation might be extreme. I just sold my house. The way we did it was to have the house listed for 3-4 days, let offers come in and then decide which to take. The house went live on Wednesday afternoon and I let it go until Easter Sunday at 1:00pm. By late Wednesday we had already received 3 offers. By the time we shut it down Easter Sunday we had received 44 offers.
There was no need for a for sale sign or a lock box on the door.
There was no open house. People needed an appointment to see the house and be accompanied by their realtor. Even then, it was a revolving door with people constantly in and out all day, with a line forming outside. I only allowed 4 people in at once including their realtor. I ended up taking an offer that was 25% over listing price with the appraisal contingency waived.
I don't see any need to have a brokers open house. It's just a waste of time IMO.
Last edited by marino760; 04-10-2021 at 04:48 AM..
If it's a hot market, why did they have to leave the house for eight hours spread over three days?
To get multiple offers and allow for people to view that may work during week/saturdays. House was being sold as is, as part of an estate. Cash/conv only, no repairs. Had the high bid be a peron that was paying cash, and came thru sat and sun. Backup came thru saturday without agent, and sun with agent.
I would have missed out if i did just one open house.
I wish the market was like that in my area. Where I am in Houston, houses are sitting for weeks sometimes. These are houses with fair prices. I just listed my house 4 days ago and have received no offers. We've had an open house over the weekend and 7 showings outside of that. We have received great feedback from everyone but no offers. We are lower than some comps but we have more updates.
I was so excited after reading these forums about people all across the country getting multiple offers on the first day. I just knew we would be loaded with offers. We are on day 4 and not once single offer. Properties in worst shape but $10K have an offer. In my area, all the houses were built in the late '80s and early '90s. We are the only house listed that has upgraded the original cheap single pane windows. I seems buys don't care about that stuff. They will when their electricity is sky high because of this Texas heat. Our a/c was replaced in '17 and a new roof installed in '19.
I wish the market was like that in my area. Where I am in Houston, houses are sitting for weeks sometimes. These are houses with fair prices. I just listed my house 4 days ago and have received no offers. We've had an open house over the weekend and 7 showings outside of that. We have received great feedback from everyone but no offers. We are lower than some comps but we have more updates.
I was so excited after reading these forums about people all across the country getting multiple offers on the first day. I just knew we would be loaded with offers. We are on day 4 and not once single offer. Properties in worst shape but $10K have an offer. In my area, all the houses were built in the late '80s and early '90s. We are the only house listed that has upgraded the original cheap single pane windows. I seems buys don't care about that stuff. They will when their electricity is sky high because of this Texas heat. Our a/c was replaced in '17 and a new roof installed in '19.
I know nothing about the Houston real estate market, but this is surprising to read. You may be priced a little high.
I wish the market was like that in my area. Where I am in Houston, houses are sitting for weeks sometimes. These are houses with fair prices. I just listed my house 4 days ago and have received no offers. We've had an open house over the weekend and 7 showings outside of that. We have received great feedback from everyone but no offers. We are lower than some comps but we have more updates.
I was so excited after reading these forums about people all across the country getting multiple offers on the first day. I just knew we would be loaded with offers. We are on day 4 and not once single offer. Properties in worst shape but $10K have an offer. In my area, all the houses were built in the late '80s and early '90s. We are the only house listed that has upgraded the original cheap single pane windows. I seems buys don't care about that stuff. They will when their electricity is sky high because of this Texas heat. Our a/c was replaced in '17 and a new roof installed in '19.
Maybe priced a bit too high. Markets are getting less competitive. I think we are past the 8-12 offers on the first weekend. Its more like 3-5 now. Still competitive. Give it a few days.
We priced in the middle of the houses sold. We have more major updates than 80% of the houses in our neighborhood. All feedback has been that price is great. Everyone loves it but no offers. I'm confused.
We priced in the middle of the houses sold. We have more major updates than 80% of the houses in our neighborhood. All feedback has been that price is great. Everyone loves it but no offers. I'm confused.
"Price is great!" is meaningless without offer(s).
People are not seeing the value your price implies you see.
Either the price is high or the presentation/condition/site/floor plan or all of them are issues.
When I give price feedback, saying it is too high, I brace myself for blowback from agent or seller.
So, it is easier to usually give no price feedback, or to say, "Just right."
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