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Bidding Wars | From Urb to Burb and Beyond Blog

Wednesday, September 30, 2020   /   by Vanessa Saunders

What's the secret to strategic home pricing?

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
I took a listing last weekend for a lovely three bedroom home in the Mid-Hudson Valley. It had been on the market for six months and had little interest. There was nothing wrong with the house, it was up to date, tastefully done and in a desirable location. What was wrong was the price.
The agent who listed it before me knowingly priced it $100,000 over its market value. The owner told me his reasoning was that “The market right now is really hot! Price it high and it will sell.”
It didn’t. As a matter of fact, it didn’t get one showing in six months. Other agents in the area knew how overpriced it was, and either didn’t bother suggesting it to their buyers, or showed their clients how much it was overpriced compared to similar properties.
Pricing a house can be tricky, especially if it is unusual (in either a bad or good way) or if there are few similar homes to comp ...

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  hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, hudson valley home sellers, selling your home, sales strategies, bidding war, bidding wars

Wednesday, September 16, 2020   /   by Vanessa Saunders

How to get your offer noticed in the Hudson Valley’s seller’s market.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.

If you’re hoping to buy a home in the Hudson Valley these days, you’d better have all your ducks in a row. By that we mean you need to prepare your offer to make it stand out among all the other offers you may be competing with. The Hudson Valley real estate market has two things going on that make it a place where home-owners selling a primo house at a reasonable price can sit back and take their pick from the multiple offers coming in. First, there are relatively few homes for sale so buyers are competing for them. Second, buyers are taking advantage of phenomenally low mortgage interest rates. That combination means the seller is king.
But there are things buyers can do to get a seller to choose their offer over others, and they’re not all about price. Price is not always the most important factor, but do not offer less than listing price. Realize you may need to offer m ...

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  hudson valley real estate, hudson valley home, buying a home, home investment, 'urb to 'burb, first time home buyer, making an offer on a house, bidding wars

Sunday, August 16, 2020   /   by Vanessa Saunders

Bidding wars are the new real estate bloodsport.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Ask any Realtor in the Hudson Valley real estate market who’s sold a house recently if they’ve seen bidding wars between buyers and you’ll hear some horror stories. But nothing is as horrific as what’s going on in other parts of the country where supply and demand has blown the roof off bidding wars and made competing for homes a new kind of blood sport.
Inman News reported today that homes in California, the Los Angeles area in particular, are getting offers of six figures over asking price. Inman recounted the story of“a Los Angeles-area agent working with first time buyers who told how her clients eventually found a house they loved in L.A.’s Glassell Park neighborhood. The asking price was $799,000 for the two bedroom, one bath home “in need of“a little TLC”.
“We offered $80,000 over asking and I thought for sure we had it,” the ...

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  hudson valley real estate, hudson valley property, buying a home, hudson valley home owners, 'urb to 'burb, hudson valley home sellers, housing sales, bidding wars

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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