why are all the houses getting offers higher than listed???

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949buyer_IHB

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hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.
 
[quote author="949" date=1237978376]hey guys i was cuious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


They are lying?
 
[quote author="949" date=1237978376]hey guys i was cuious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


They are psychologists?
 
[quote author="949" date=1237978376]hey guys i was cuious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>
Tell them to eat a shit sandwich for being rude and move along to other listings.
 
why are you calling the listing agents, wouldn't they want to hear from your agent? better yet, they might even call if you have a written offer
 
[quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


The sellers are trying to start a bidding war, and it's working.
 
[quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


I have a response, but Zovall commanded me to be nice.
 
[quote author="no_vaseline" date=1237988839][quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


I have a response, but Zovall commanded me to be nice.</blockquote>


No one said you had to be nice to the RE agents mentioned in the post. ;-)
 
[quote author="asianinvasian" date=1237985781][quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


The sellers are trying to start a bidding war, and it's working.</blockquote>


So what you are saying is the banks/sellers are telling the agents to create a false bidding war? I'm sure that is a DRE violation, and it only proves that stricter and harsher regulations need to be placed on RE agents, coming from a wannabe agent.



Here is the amount of distressed property by price range, per Steve "Failed Economist" Thomas.



http://i40.tinypic.com/21osxhj.jpg



Looks like the low end has the most amount of distressed properties, and if false bidding wars are being created... then, like Gary Watts, they need to be hung by their balls.
 
[quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


Which properties are you looking at?



In Irvine, for the last 3 months, there have been 62 MLS-listed sales in the $400-500K range. Of those, 3 have closed over list price, and 6 have closed at list price. Most bank-owned properties are selling at or above list in the more distressed cities.



Do not eat trojanman's sandwich and tell graphrix to leave GW's huevos alone.

:-)



Good luck,

-IR2
 
[quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


Welcome to IHB!



Are these homes that you are looking at mostly REOs or low priced short sales?
 
[quote author="zovall" date=1238010150][quote author="949" date=1237978376]hey guys i was curious why i am getting responses from agents stating that offers are higher than the prices listed on houses in orange county?



i have been looking at some homes that are in the 400k - 500k range and everytime i call the agents:

1. tell me they have 8 to 20 offers already

2. some are cash and some are pre-approved

3. they already have offers that are well over the listed price, such as "$50k-100K over"

4. i have to beat the offer or they wont even talk to me. sometimes they are rude and abrupt. most of the time they just hang up.



i thought that the market was supposed to be lower now, which in turn is a buyers market.



can anyone please explain.



thanks.</blockquote>


Welcome to IHB!



Are these homes that you are looking at mostly REOs or low priced short sales?</blockquote>


Good question.
 
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