Is 'Sixth' Time A Charm?

Whatever happened to 'three times' as being the lucky number?

That is certainly not the lucky number when placing offers on properties these days, at least here in Menifee CA!

I have been working with a very nice couple in recent weeks trying to get an offer accepted. How high can we go seems to be the catch phrase these days!

What buyer's need to understand is that List Price is not, may I repeat NOT the sales price on a property. Seems hard to believe when I tell my clients that on an REO listing, the list price in most cases is the starting price.

When a client sees a two story home with a pool and on a corner lot listed for $150K, they get all excited and goose bumpy. Especially if the home is in their dream neighborhood and smells of fresh paint and carpet. They begin laying out their furniture and measuring room sizes, thinking the house is their's.

Think again....and again. This is so heartbreaking as a Realtor to tell the client there will be multiple bids on the property, there will be cash buyers that can close in 7 days and the price will go for far above the list price. This is the reality of today's market here in the Menifee and Temecula Valley's.

There is so little inventory and more buyer's that are chomping at the bit for a chance at the American Dream of owning a home.

I tell my clients not to give up. There is a strategy involved in placing offers in this fiercely competitive market. Working with an experienced Agent will make that process less painful. We will keep submitting offers until one sticks. Perhaps this time, 'Six' will be our lucky charm.