How Much to Offer For A Condo in Mountain View Ca With Multiple Offers

Anyone trying to buy a condo in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View Condos 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 Mountain View condo multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View condo in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer 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 variables, and the market is a moving target, but a good Mountain View 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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

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

If you would like to search for homes for sale in Mountain click here.

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Mountain View Ca Multiple Offers Update Aug 2014: What Does it Take?

Anyone trying to buy a home in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View home in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer 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 variables, and the market is a moving target, but a good Mountain View 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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

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

If you would like to search for homes for sale in Mountain View click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

How Much Over List Price Are Mountain View Homes Selling for in 2014

Anyone trying to buy a home in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View condo multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View home in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer 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 variables, and the market is a moving target, but a good Mountain View 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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

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

If you would like to search for homes for sale in Mountain click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Mountain View Ca: The Perils of Non Contingent Offers, For Sellers

In this crazy market of homes getting five, ten, fifteen, even twenty offers, everyone knows that buyers are taking a risk when they make a non contingent offer on a Mountain View home. This means that the buyer is waiving all rights to inspect the house as well as any rights to back out of the offer on the Mountain View home for sale if the bank turns down the request for a loan. A non contingent offer on a Mountain View home also means that no matter what the home appraises for, the buyer agrees to make up the difference in cash.

Here is how it works.  The home is listed for $995,000. The winning offer is $1,300,000. The buyer is going to put 20% down or $$260,000 and get a loan for $1,040,000.  The buyer shows proof of funds of $350,000.

Now let's say the Mountain View real estate agent representing the seller believes that the comps for the house proved the home was worth between $1,100,000 and $1,150,000 and is suggesting listing under a million to generate a lot of offers.

If the seller picked a great Mountain View real estate agent then he or she should be very confident that an appraiser will also feel the home is worth $1,100,000 to $1,150,000. If the home appraises for $1,150,000 then the bank will loan 80% of that number or $920,000 and the buyer will need $380,000 for the down payment as well as money for closing costs and reserve requirements from the bank.

You can see from this example that the buyer of this Mountain View home for sale is going to be in trouble. With only $350,000 in available cash the deal is not going to work.  This buyer has aspirations that do match with his/her wallet.

The consequence to the buyer is that the non contingent offer does not give him/her an out and the 3% deposit made with the offer is at risk of being forfeited. This is common knowledge, but what about the risk to the seller.

People rarely talk about the seller's risk in a transaction. Even in this hot Mountain View seller's market the seller can be left in a bad situation if the first buyer can not perform. You may have a back up offer but that person may have already found another home or had a change of heart. The word will get around that the home only appraised for $1,150,000 and so getting $1,300,000 for your Mountain View home may be tough. Getting $1,250,000 at this point could be tough.  Also, you could potentially lose weeks of time which can disrupt the plans of a Mountain View home seller, or put the house back on the market at a less favorable time.

The lesson to be learned here is that in looking at offers the highest may not be the best. Your Mountain View Real Estate agent should help you analyze which potential buyer has the best chance of closing the deal the first time around.

If you have any questions about selling a home in Mountain View 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

Mountain View Ca. Multiple Offers: the Facts

Anyone trying to buy a home in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View home in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer 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 variables, and the market is a moving target, but a good Mountain View 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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

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

If you would like to search for homes for sale in Mountain View click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

How Much Over List Price Are Mountain View Condos Selling for in 2014?

Anyone trying to buy a condo in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View Condos 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 Mountain View condo multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View condo in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer 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 variables, and the market is a moving target, but a good Mountain View 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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

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

If you would like to search for homes for sale in Palo Alto click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

How Much Should I Offer For that Mountain View Condo?

Anyone trying to buy a condo in Moutain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View condos 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 Mountain View condo multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View condo in a multiple offer situation.

1. In my opinion the most important thing is, how much is this condo worth to you? In other words, what price would you offer 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 condo 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 variables, and the market is a moving target, but a good Mountain View 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. In Feb the average was 10.5% over list price, but some went more and osme less.

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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View condo multiple offers.

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

If you would like to search for Mountain View condos for sale click here.

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285v

Multiple Offers in Mountain View Condos: How To Choose Offer Price

Anyone trying to buy a condo in Moutain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View condos 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 Mountain View condo multiple offer situation and not overpay? The good news is that as you can see from the above chart prices are not going as far over list price as earlier in the year, but it is still a challenge.

The answer is not simple, and sometimes it is 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 Mountain View condo in a multiple offer situation,

1. In my opinion the most important thing is, how much is this condo worth to you? In other words, what price would you offer 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 condo compared to market value? If the condo 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 Mountain View 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 Mountain View listings? Does the agent over value a condo 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View condo multiple offers.

If you have any questions about buying or selling a condo in Mountain View please feel free to contact me.

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View Ca: How Much Over List Price Are Homes Selling?

Anyone trying to buy a home in Moutain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View home multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View home in a multiple offer situation.

1. In my opinion the most important thing is, how much is this condo worth to you? In other words, what price would you offer 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 condo 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 variables, and the market is a moving target, but a good Mountain View 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. the good news is the amount over asking seems to have peaked is is now down a little from the 12% over average in March.

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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View home multiple offers.

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

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much Should I Offer on The Mountain View Home with Multiple Offers

Anyone trying to buy a home in Moutain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View home multiple offer situation and not overpay?

The answer is not simple, and sometimes it is 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 Mountain View 

home in a multiple offer situation.

1. In my opinion the most important thing is, how much is this condo worth to you? In other words, what price would you offer 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 condo 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 variables, and the market is a moving target, but a good Mountain View 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. the good news is the amount over asking seems to have peaked is is now down a little from the 12% over average in March.

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 Mountain View 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 Mountain View 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 Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View home multiple offers.

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

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

I Keep Loosing Mountain View Multiple Offers, Should I Change Agents?

It is no secret Mountain View as well as most of the Silicon Valley is experiencing multiple offers on homes for sale. While this is great for sellers, it can be extremely frustrating for buyers, and their agents. After losing 5-10 homes a buyer will unquestionalbly start to doubt their agent. They may feel that their agent is doing something wrong and maybe it is time to find someone else.

Will this work? Maybe, but there are limits to what a Mountain View real estate agent can do. A lot of winning an offer is up to the buyer, so maybe you need to look in the mirror first, before changing your agent.

In a real estate offer the buyer has some control over what happens. Here are some things you should do:

1. Are you making realistic offers? If a home is listed for $475,000, you know there are 10 offers, and you offer $470,000, what do you think is going to happen?

2. You have been pre-approved for $800,000 with 20% down. You only have down payment for 20% of $800,000, so you need to only offer a price that will make it through an appraisal. However, most homes are selling for prices higher than they can appraise for, so what do you do? You will need to find a less expensive home so that you have a 5-10% reserve of cash over the price where you think the home will appriase, i.e., you need to find a home where you can put down 25-30%, not 20%, so that when it does not appraise you have the cash to cover it.

3. The seller has completed a a full disclosure package, including a property inspection, termite, roof, chimney inspection, and you ask for a 17 day property contingency period. I am not saying you should not have your own inspection, but keep the time to a minimum.

4. You have a pre-approval letter from Happy Birthday Mortgage with nothing from an underwriter, and nothing from a direct lender. I don't care if the mortgage broker from Happby Birthday Mortgage is your mother, it is not going to fly. Get a full approval from a direct lender. It is hard enough to compete against a cash offer, but to try to compete with a pre-approval letter that may not be worth the paper it is written on is no way to act in a competitive market.

5. You are making an offer on a short sale and don't offer to open escrow until after bank approval. While that may be ok in a buyer's market, when there are so few homes for sale, and so many hopeful buyers, it is not going to work anymore.

So look at yourself first. Tomorrow I will talk about what your agent can do to help your offer win.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194