Real estate transactions aren’t like they used to be 20 years ago. Or 10 years ago. Or even 3 years ago. Today’s sellers often list their property slightly under the current market value, which encourages interest and activity and brings in multiple offers, many times over list price, and many time over the current market value. It’s a strategy that can be used on certain properties.
Conversely, today’s buyers need to make offers at list price or over, depending on the property and their Realtor’s advice. Buyers aren’t at all comfortable doing that. Sometimes they fire the agent who suggest an over-list-price offer and head out to find an agent who will do it their way. We’ve had that happen. That couple still doesn’t own a home, and they’re thinking about firing the second agent.
This article, about conditions in Washington, D.C., reflects conditions right here in Gilroy, and the surrounding area. Read the article, and know that if you are selling or buying, you have to go by the current conditions, which your local Realtor will know. Trust them.