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Old 05-15-2015, 07:31 PM
 
32 posts, read 37,333 times
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Home has been on the market for 5 days. Now I'm wondering how to get a bidding war started? Drop the price to a reasonable one and let the offers come in? Or is there something more to it.
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Old 05-15-2015, 07:35 PM
 
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Where is the home? Is it in highly desirable location with low inventory? That's what's driving bidding wars. Didn't you say in the other thread that you just bought a house in Bothell?
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Old 05-15-2015, 07:40 PM
 
32 posts, read 37,333 times
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Quote:
Originally Posted by Seacove View Post
Where is the home? Is it in highly desirable location with low inventory? That's what's driving bidding wars. Didn't you say in the other thread that you just bought a house in Bothell?
We did! But we also have a HOME to sell. Is it illegal to have another home?
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Old 05-15-2015, 08:31 PM
 
21,989 posts, read 15,710,757 times
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Originally Posted by Disneyluv111 View Post
We did! But we also have a HOME to sell. Is it illegal to have another home?
Not at all, I was asking where the home you are selling is, is it in a desirable location with limited inventory?
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Old 05-15-2015, 08:37 PM
 
35,094 posts, read 51,236,769 times
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Quote:
Originally Posted by Disneyluv111 View Post
Home has been on the market for 5 days. Now I'm wondering how to get a bidding war started? Drop the price to a reasonable one and let the offers come in? Or is there something more to it.

You generally give it more time and see what offers if any come in.
Your home will sell when the right buyer comes along and not before.
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Old 05-16-2015, 10:57 AM
 
4,483 posts, read 9,292,219 times
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Low price
Clean house
Good realtor

There's not much else you can do. It can be very frustrating.

If your goal is a bidding war, rather than a decent price, offer it for 60% of what you think it's worth and see what happens.
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Old 05-16-2015, 11:29 AM
 
Location: State of Transition
102,210 posts, read 107,883,295 times
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Quote:
Originally Posted by Disneyluv111 View Post
Home has been on the market for 5 days. Now I'm wondering how to get a bidding war started? Drop the price to a reasonable one and let the offers come in? Or is there something more to it.
Why are you so anxious to get a bidding war started? it's only been on the market 5 days. And what would be the point in dropping the price, to get a bidding war going? You might find someone willing to buy at your current price, or close to it. Why the impatience? Why does it matter to have a bidding war? All you need is one serious buyer.
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Old 05-16-2015, 12:37 PM
 
Location: Washington State. Not Seattle.
2,251 posts, read 3,270,871 times
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I apologize if this is an old redneck's attitude, but aren't things like unnecessary "bidding wars" what got the housing market into so much trouble pre-2008?

As we learned (or as I thought we had learned) in the housing bust - it's nice for the seller, and maybe even their neighbors, to have a "bidding war", but artificially-inflated house prices generally hurt buyers and other homeowners in general when prices inevitably come back down to reality.

Houses, like everything else, need to be bought-and-sold for what they're worth, not inflated by some marketing gimmick.
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Old 05-16-2015, 01:38 PM
 
Location: State of Transition
102,210 posts, read 107,883,295 times
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Quote:
Originally Posted by PS90 View Post
I apologize if this is an old redneck's attitude, but aren't things like unnecessary "bidding wars" what got the housing market into so much trouble pre-2008?

As we learned (or as I thought we had learned) in the housing bust - it's nice for the seller, and maybe even their neighbors, to have a "bidding war", but artificially-inflated house prices generally hurt buyers and other homeowners in general when prices inevitably come back down to reality.

Houses, like everything else, need to be bought-and-sold for what they're worth, not inflated by some marketing gimmick.
Yes. And now apparently some sellers think bidding wars are the norm. They're not, with the exception of parts of the San Francisco Bay Area.
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Old 05-17-2015, 12:39 AM
 
Location: West Coast - Best Coast!
1,979 posts, read 3,526,004 times
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Quote:
Originally Posted by Ruth4Truth View Post
Yes. And now apparently some sellers think bidding wars are the norm. They're not, with the exception of parts of the San Francisco Bay Area.
They're quite common on the Eastside and in Seattle, too.

OP, the best way to sell your house quickly is to price it well from the get-go. Your real estate broker should have performed a CMA for you so you could determine a competitive sales price. Hopefully you listened to his/her research and advice? Of course, some areas are just more popular than others, but price is always the answer for a challenging property.
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