According to the Washington Post this weekend, bidding wars are back in the Washington D.C. metropolitan area. Well priced homes in a good condition, or homes with a good rehab potential, are flying of the shelves!
I do agree with the article. We often have multiple offers and sometimes escalation clauses on homes we have been selling. This is not the case in every neighborhood – the market is very local these days. In general, foreclosures have multiple offers on them – especially ones that can be renovated and ones without any major defects (leaks in basement, next to major highways etc.)
By being smarth about price, marketing strategy and repairs/updates also your home can obtain multiple offers (and maybe even an escalation clause or two!) If you are thinking about selling your home please contact us and we’ll be happy to help!