Howdy folks. Today I want to bring you a list of condos that have sold in under 15 days during the month of September 2011. Now this list is only for King, Snohomish and Pierce county. There were 71 condos that flew off the shelves and into an escrow account. Most of these were in Seattle, but some were in Auburn, Bellevue, Bothell, Des Moines, Edmonds, Everett, Federal Way, Issaquah, Kent and Kirkland.
Why am I bringing this up? To paint a picture that the market is rebounding? Hardly, if you know me you know I don’t think the market will rebound any time soon; not do I believe that it should. But that’s another story…
The reason I am pointing this out is because all too often I have a buyer who misses out on a property because they hesitate. Or worse they throw a low-ball offer at these condos and lose out. One thing I want you to take note of is how close to asking price these sold for. As you can see they, the vast majority of them sold above, at, or slightly below the asking price; which means there were most likely competing offers.
As you are hunting in the condo or single family home market, keep a good eye on prices. Ensure you are getting a list of new homes to hit the market in your criteria. Very often bank owned properties or sellers with lots of equity put their homes up for sale at very competitive prices; because they NEED to move and they aren’t going to waste time by marking the price up on their house. Not every seller makes this rookie mistake (but most do…sorry, but its true).
Be an expert on prices, get familiar with what you are willing to pay and for what kind of home; and when it hits the market, POUNCE on it! Even the worst housing markets in the country have these kinds of fire sales…
-Gilbert
P.S. VIEW ALL CONDOS LESS THAN 5 DAYS OLD HERE!
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