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Multiple Offers

May 7, 2009

USA Today just ran an article entitled; “More homes get multiple offers; downturn may be nearing end”. A similar article just ran in the Sarasota Herald Tribune. This is definitely the case hare in Sarasota. We have three years of pent up demand and yes there are many properties on the market but many homes are overpriced. With the best deals getting all the attention multiple offers are common. We are even seeing properties sell for more than asking price. I was just notified that a cash offer placed this morning was declined by a seller who received an above list offer which was also for cash. The property garnering multiple offers was a two bedroom condo beach condo on Siesta Key which was a bank foreclosure listed at only $299,000. This property is currently assessed by the county tax office at $545,000 and sold for $649,000 in 2005. If you are looking for deals like this give me a call.

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