Comments on: Calling B.S. On The “Offer Coming”

By: HouseHunting

HouseHunting — Wed, 19 Nov 2008 04:24:57 +0000

It’s crazy – we put an offer in at asking on a property (that has been reduced several times) in the 94114 and was countered +250k. They stated they were awaiting multiple expected offers ‘over’ asking. That was a month ago and the property is still sitting pretty and my interest has waned….ah vell.

By: eddy

eddy — Tue, 18 Nov 2008 04:29:42 +0000

Was just sticking with the aquatic theme for housing analogy on here recently! But I’ve always loved the play on words / mixed metaphor ala yogi berra.

By: fluj

fluj — Tue, 18 Nov 2008 00:09:40 +0000

“but a lowering tide sink all ships.”

Eddy, my man, you summoned your inner Ray Ratto on that one. For those who don’t know Ratto’s m.o. is the mixed metaphor as platform.

By: 94114

94114 — Mon, 17 Nov 2008 23:55:40 +0000

I used to notice this phenomenon: a property sells for over asking even after being on the market for weeks and weeks and weeks and a price reduction or two. I have to assume a buyer comes in, is interested and then is told there’s another offer coming in and they decide to bid higher than the asking. The other offer never materializes.

By: eddy

eddy — Mon, 17 Nov 2008 18:40:51 +0000

My favorite so far was the offer date that came and went. -17% and 500k later — still on the market. Remember the good ole’ days of getting a listing and having multiple, real offers in hand within 14 days.

Fluj, not sure of you heard man, but Sun just laid off a bunch of employees!!!!

Sadly, 2008 is actually the calm before the storm guys. I’d cautiously / aggressively get your buyers into contract at all costs. And get your sellers to sell. Can’t bail out when your underwater. SF may still be a safer haven but a lowering tide sink all ships.

By: thefrontsteps

thefrontsteps — Mon, 17 Nov 2008 17:32:46 +0000

There is no doubt the buyers are circling. They have not disappeared, if they’re anything like my buying clients, they’re watching closely. However, if we have another bad week in the economic world, many of them will disappear. They’ll resurface again. I’m sure of it.

By: fluj

fluj — Mon, 17 Nov 2008 16:57:45 +0000

I have run into this too. It will make three times if this one today doesn’t actually have an offer in hand, as I was informed Friday. However, I have also seen double digit numbers of offers twice, and buyers circling a property like sharks — visiting three times and calling incessantly — only to disappear.