52 Hartsdale – Overbid of the Month

Hello to all of the educated real estate investors/buyers and sellers registered on MLS Sold Data

As we continue to research current market conditions I continue to see buyers make emotionally motivated overbids on purchases! 

So in the continuing efforts to further protect and inform the public we will be highlighting monthly “overbids” to further show the continued importance of real estate transparency!

As you can see by this $999k asking price and the final purchase price of over $1,500,000 this was an aggressive multiple offer presentation! However as further made evident by the most recent and comparable sale prices in the area, this was an overpayment.

I would not have allowed my clients to bid $1 over $1,310,000!  We would have run away from this bidding war and lived to fight another day as this was a $200,000 overpayment!

This is obviously a huge win for the seller and the reason that in a seller’s market (which we are!) Attempts to set up multiple offer bidding wars! (You would do the same! Right?)

But… for a buyer this can be real estate suicide! This is why I created MLS Sold Data

So we could have richer and more informed discussions about when to walk away from a bidding war!!
As the great Kenny Rogers said so eloquently …

“You got to know when to hold ’em, know when to fold em, know when to walk away and know when to run”
These buyers should have run!!

Contact me anytime so we can engage in richer conversations

I am at your service and ready to talk when you are!

Knowledge is Power!

Use our transparent "Search Listings" tool then Contact Stephen for a complete valuation and to book your showing!!