How Much Should I offer on Redwood City, Ca Home With Multiple Offers?

Anyone trying to buy a home in Redwood City right now knows that it is tough out there. There are many more buyers than sellers and many Redwood City homes sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Redwood City multiple offer situation and not overpay?

The answer is not simple, and sometimes it not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Redwood City home in a multiple offer situation,

1. In my opinion the most import thing is, how much is this home worth to you? In other words, what price would you offer so so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variable, and the market is a moving target, but a good Redwood City real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Redwood City listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Redwood City real estate agents like to do.

In the end, the final offer price and terms will be your decision, but if you have a great Redwood City real estate agent he or she can help guide you through the murky waters of Redwood City multiple offers.

If you have any questions about buying or selling a home in Redwood City please feel free to contact me.

If you would like to search for homes in Redwood City click here.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Why It Is A Great Idea To List Your Redwood City Home on Dec 26

I know what you are thinking, I am going to wait till after the first of the year or the spring to sell my Redwood City home. It would be stupid to list a home during the holidays, no one does that. Or no one is looking for a home during the holidays. 

I need to respectfully disagree with those sentiments. I believe December is a great month to sell a home in Redwood City, especially right after Christmas.

Here are the reasons I think selling  a Redwood City home on Dec 26th this year is a great idea.

1. The inventory has never been lower. As of today there are only 40 homes for sale in Redwood City. A buyer's market doesn't even happen until there are over 90 homes for sale. List this month and you will have little compettion.

2. There are many people who are planning on moving to Redwood City who are using winter break to come and look for a home. When there are only 40 homes for sale it is not hard to see how much your home will be apprectiated.

3. If you list your home on Dec 26 or there abouts, you could get the out of towners who are here over vacation looking for homes. Kepp it on the market 2 weeks with an open house the first week in Jan and then take offers the following week. This way you can also get the locals who were out of town Christmas week.

4. Priority Enrollment for Redwood City Schools of Choice begins Jan 10 so there are many people with school age children who want a Redwood City address early in the enrollment period. Also neighborhood schools are enrolled based on date of enrolllment so if your home is in one of the more popular school boundaries Selling a Redwood City home at the end of December would work perfectly for these families.

So in my opinion if you are ready to sell your home in Redwood City then my sugestion is don't let a great opportunity pass you by. If you are ready to list in December, wait until after Christmas day, and then get it on the market. Your results will be very satisfying.

If you have any questions about selling a home in Redwood City please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285