Local Market > You Say Market is Down, I Say Multiple Offers

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Yes, this is what I am declaring - on the transactions that I have been on lately whether it is on the listing side or the buying side, it seems that I have been working doubly or triply hard because of multiple offer situations. Important to add: these are not bank-owned and foreclosure properties.

If a property is priced correctly, it really is "market-proof". Buyers will recognize that and they will come by the dozens! Whether we have a good economy or a challenging economy, the fact remains that people will continue to live in houses. No surprises there. People will continue to buy houses even though what I have seen lately are "buys" in their comfort zone instead of going out on a limb to get the one step-up, push-my-limit house. I like this much better.

In these multiple offer situations, I need to "massage" the deals to make them work. But I ejoy these types of massages. There is a new game of negotiations (multiple offer situations: my client is better than yours). So, I am not letting the news pre-determine how my market (the Frisco TX homes and greater Dallas metroplex areas) is doing. In fact, I don't have time to watch the news. Everything is too depressing while I choose to make this year strong.

I'm not a "paint-a-pretty-picture" type of person. I'd say it like it is. No doubt that the mortgage industry is cleaning up their acts about qualifying. In fact, they should have done this to begin with. But I am dealing (on both sides) with good credit buyers with good down payment sizes.

So, who says that the world is coming to an end? Who says that we are in a recession? Not in my multiple offer transactions for sure!

Key Note: Pricing is important and no, you don't have to "give away" your house in order to receive multiple offers. If you live in the greater Dallas metroplex area, let me show you how (shameless plug for me).

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About Loreena & 3:16 team REALTY

Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
Fax (214) 231-9018
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Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #9001154.

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When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

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