Multiple, Multiple Offers
My latest listing I put on the market was last month April 2013; 5226 Streamview Drive San Diego- a mid century “charmer”- a 2BR/1BA home with a converted garage- used as an optional 3rd BR or den. Features included low maintenance landscaping, serene backyard, and an interior in mostly original condition, but very well maintained. This home borders the College Grove neighborhood, North of the 94 freeway, but West of the College Grove exit. There weren’t very many recent similar comps in the direct neighborhood, but as I discussed with my seller, demand has remained high and supply low throughout the county.
With research and studying the other homes for sale and sold in the area, we determined our list price of $250,000.
After a week on the market giving the property adequate market time and exposure, as expected, we received multiple offers, but more multiples than we expected! We received over 15 offers on this home.
This has been a record for the most amount of offers I’ve received on a traditional sale, especially given that we believed we priced at market value(not under market). After negotiations, we moved forward and selected a strong buyer. We are in escrow and I’ll list the sold price once we close. This market continues to remain hot!