Real Estate Bidding Wars in a Recession?

Location, location, location is first rule of real estate! Strategy, strategy, strategy is the new rule for spring 2009 in the Edmonton housing market!  While some sellers are waiting, waiting, waiting… others are putting up sold signs extremely quickly!  Whether you are on the buying or the selling side of the market, don’t be fooled into thinking that it always takes longer to sell these days.  Our team has seen some very quick sales recently.  Just last week one of our own listings sold for over list price in under 12 hours with 3 offers received!  We have had both  buyer and seller clients in multiple offer situations in the past month! 

This doesn’t mean prices are rising, but it does mean that appropriately priced homes may attract more than one serious purchaser.  Various segments of the market are moving extremely quickly, so if you are a buyer don’t risk losing that condo you fell in love with today because you’re convinced it will still be there tomorrow.  If you are a seller, pay close attention to your pricing strategy.  By placing your property in the right range you will attract the right group of purchasers.  All it takes is for more than one person to want what you have to offer and to recognize it is appropriately priced and you could find yourself on the receiving end of a bidding war!

At SCHMIDT we work hard to ensure that our buyers don’t pay a penny more than they have to, and that our sellers get the most they can for their property. 

Location + Strategy + Market Knowledge = Your Successful Transaction

Do your homework then get someone you trust in your corner… like your friends at SCHMIDT for instance :)

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