Under Asking: 'There are still deals to be had, but the market is heating up fast.' Three agents on why they went down in price

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Three different agents selling three very different homes explain why they agreed to sell at a discount. Plus: market predictions for this spring

“We listed this property in the middle of January and saw little enthusiasm at first—maybe one showing per week. We also held open houses on the weekends, and those at least attracted a few curious buyers. After a few weeks, we thought about dropping the price but decided against it, predicting that interest rates would soon stabilize and buyer confidence would return.”

“It turns out that we were right. As February drew to a close, the turnout improved to three or four showings per day, and our open houses became more popular. Around day 35 on the market, we received three offers at once. We went with the $1,100,000 bid. It was not the most lucrative of the three, but it came with the fastest closing date, which was more important to my client than the money.”

“In the end, it’s not that we were forced to sell for under asking—it was more about timing. The market is picking up: last July, I sold a similar townhome on the same street in a stronger market with more upgrades and features for $1,245,000, so we’re not that far off.”

 

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