Back in the day (two to three years ago) if you dropped a BOM on your listing, it didn’t really matter as there were usually a handful more buyers ready to pounce. These days…not as many, and by all accounts we’re definitely seeing an increase is BOMs across all price points and property types. Today is no exception.
With the return of 1141 Vallejo, a three bed, two bath, Russian Hill residence, we’re left wondering…who’s next, and will another buyer be ready to pounce?
What is a BOM? B.O.M. stands for Back On Market…a listing that was in contract, and for any number of reasons, is again available.
3 thoughts on “Dropping BOMs”
You can’t say BOM on a plane!
I think the BOM is a kiss of death in this market. Sellers should be very cautious of accepting an offer and clear contingencies fast and aggressively. Of course, obtaining financing, or having your rate increased half a basis point between making an offer and securing financing are the realities of today’s market. Still, buyers are like sharks and they smell blood.
That is a beautiful property and anyone who can afford to purchase it will be getting a premium deal. I just wish I could afford it!
Square footage not available, for a condo? Come on now.