sales tempo
Timing in real estate like everything else is key. We had apartment in East Vancouver that we listed in January & BINGO it sold in a week!!!for over asking price. Yes multiple offers. In February, just a week later we listed the exact same size apartment in the same building. After 2 weeks we had a offer..that collapsed. Four weeks later we receive another offer, that also collapses. 1st time purchasers often get cold feet so this is not unusual. What I find interesting is that it is more often than not that it will take 3 yes 3 offers for one to stick & hold especially when dealing with purchasers that are buying for the 1st time. It seems to be like getting up to bat in base ball..... 1st strike is a foul ball, second strike is a miss & third time ...home run. Although the news media seems to focus on the multiple offers with properties selling over the asking price I have found over the last 2 years in selling apartments especially ......this is not the norm. The practise runs for the sellers is the warm up for that 3 offer that takes.