Most of our listings are now selling with multiple offers including our most recent listing in Gale Ranch at 2044 Feathermint. This home was put on the market last Thursday and held open both Saturday and Sunday. The weekend traffic was very good, there were at least 20-30 groups through each day. We received several offers on this home and it looks like it will be pending within 24 hours. The comments were very favorable in regards to this home and most visitors loved the floor plan, numerous upgrades, yard and views! There are just not enough homes on the market now that even compare to this one. It is so tough for buyers when they are writing offers on homes with multiple offers. Here are some things we look for when determining the best offer: Price, terms, contingency periods, lender approval letters or cash offers with documented funds. Some buyers think that offering cash means getting a discounted price. It all depends on the situation as there are never 2 situations the same. Good terms can include fast closes, free rent backs, quick contingency removals, no appraisal contingency, 3% deposits, and strong approval letters. One thing that makes a really strong approval letter is getting DU (Direct Underwriting) approval. This shows the seller that you are fully into the process with a lender. It is not fair to a seller for a buyer to still be shopping for a lender in the middle of an escrow. These are just some of the things that we look for in an offer. I mention price because price is still #1 for most sellers. My last tip is this, if you know there are multiple offers, why bother writing an offer $100k less on a home that is priced really well to begin with. Remember most homes that receive multiple offers are priced well or they would not any offers at all. It is not a good idea to low ball a new listing as most sellers are not willing to drop their price if they have been on the market less than 21-30 days.
