anchoring

Bidding wars and how they work

You are hearing the stories. I know. “…there were ten offers on every property and everything sells for $50,000 above asking price.” “NO ONE is buying with a home inspection…” “If you don’t have cash, you can’t buy in (name the town here.” The stories are true, but they are not true. Some properties are

By Rona|2017-05-09T20:50:06-04:00May 17th, 2017|Categories: Market data and conditions, Negotiating|Tags: anchoring, asking prices, bidding wars, multiple offers|

Under-pricing and bidding wars

At most social occasions, I have been getting a lot of sympathy these days. “Are you OK?” they ask, expecting tales of bankruptcy and nervous breakdown. “I hear there are ten offers on every property and everything sells for $50,000 above asking price.” The stories are true, but they are not true. Some properties are