“Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives.” – William A. Foster
Buyer bidding wars, best and final offers, timing temptation, regrets, over-bidding, winning, losing…it’s all happening. Remember that sellers also walk a delicate line in today’s environment.
While the obvious goal is to sell for the highest price, sellers always run the risk of accepting the offer of someone who doesn't follow through on contract conditions or even worse – back out because they were just tying up the home. Should this happen, the other offers may or may not still be there as backup, and going back to the drawing board can be a one-way ticket to a lower price the second time around. Price gains in some metros and states have been truly phenomenal.
Phoenix led the Case-Shiller list for the 22nd straight month with a 20.0% gain while San Diego moved into 2nd place at 19.2%. The FHFA said Idaho’s prices rose 25% followed by Montana and Arizona, both up more than 18%. If you are in this roaring market to buy a home … focus on quality, well-designed real estate, that offers true longevity that sustains.