Now that is a great real estate story. I've been out evangelizing the real estate community, and all I have read are some depressing stories of the market not being good, subprime loans, interest rates, etc...
That is the name of the game, and you obviously have it down! I think that you put a different spin on things and it is refreshing in a Real Estate blog because they all seem to be the same. So keep up the good work!
I think you need to speak with your agent, since you and I never spoke I don't think I "said" anything to you. I spoke with your agent who is now very confused as to why you are angry.
You made a low offer on a property that I had listed and it sold to someone else for more than you seemed to be willing to pay. Had the property sold for less than you were willing to pay, I could see why you would be angry. But it sold AS IS with no repairs and no credit for repairs, for more than you were willing to pay.
Of course only you and your agent know what was said by you. The owner indicated that she would be renting it to her daughter if she did not receive an acceptable offer by the 25th. Someone else made an acceptable as-is offer before that time.
Great work ... a realtor who actually uses data instead of antidotes. I'm impressed! Now, can you setttle the question of FSBO vs professional and staged vs empty regarding what really brings value. Using real data? I'd be indebted.
There are not enough transactions so not enough data) to prove out a FSBO vs. "agent listed" value proposition. I'll have to go all "anecdotal" on you to give my thoughts :)
I have never agreed with the stats that come from NAR saying listed property sells for more. Whenever I have a seller who bought the property as a FSBO, it seems they have overpaid. So that would suggest to me that FSBO property sells for more than "market tested" price on a listed property.
As to staged vs. not staged, I am sad when I see a property sell for more than it is worth when it is staged, especially if the staging "successfully" camoflauges the properties inherent weaknesses and feels like "trickery".
Some staging helps set a warmer tone, but when a property is overly staged by covering defects with rugs, etc...that is not a good thing.
Collecting real data as to FSBO vs listed or staged vs. not staged, would involve a lot of similar properties in each category. Collecting that kind of info would be tantamount to a full scale research project, and not one I could undertake in my normal course of business.
In today's appraisal climate, vs a few years ago, these issues should NOT impact the value at which a lender is willing to fund, and so should be of no consequence by the day of closing, vs. time of offer.
Sorry to disappoint you, but FSBO and staged are not readily available "search terms". Collecting sufficient data to form a reliable consclusion would be near impossible. I cannot find FSBO transactions without hand picking using County Records. Even if I took the time to find the FSBO sales, the County Records have no photos, so I could not ascertain the differences in interior features that could compensate for the price differential. Hence the result would be inconclusive and not worth the many hours it would take to gather the data.
ARDELL
DellaLoggia
On Seattle Real Estate including Kirkland, Bellevue, Redmond, Green Lake and most areas around Lake Washington North of Downtown Seattle.
Phone: 206-910-1000 - Mailto:Ardell@RainCityGuide.com
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