Writing Offers in the Leavenworth Real Estate Market

Mostly when we look at sales statistics in the real estate world, we are looking at a few numbers. Closed sales and pending sales are the most important.

But before a home goes "pending" it needs to be shown to prospective buyers and it needs to have written offers presented.

The numbers of showings that a certain property receives and the number of offers it gets aren't public knowledge and aren't really tracked in any centralized database. Mostly we have anecdotal evidence and skeptics like those at the Seattle Bubble blog are justified in being skeptical when real estate agents talk about increased activity at open houses and such.

Last fall (October of 2009) I collected some numbers from some transactions I was involved in. Take a look.

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October 2009

In the past two weeks, I have been involved in 6 offers, though only one has gone "pending" at this point. Looking at these offers and how they were received by the sellers might hold some valuable lessons for us all.

Offer #1 - Home in Leavenworth
Offer #2 - Building lot / acreage in Wenatchee
Offer# 3 - Building lot / acreage in Leavenworth
Offer #4 - House in Leavenworth
Offer #5 -House in Leavenworth
Offer #6 -House in Leavenworth

All told the properties total asking price was $2,793,000.

I wrote 3 of the offers on behalf of my buyers. 1 was accepted by the sellers, 1 was rejected by the seller, and 1 is still being considered. The offers were written at 63%, 80%, and 85% of listing price. The 63% off was countered at 84% , but the buyer was only willing to come up to 79%. The 80% offer was countered by the seller at 92% which was accepted by the buyer.

Negotiating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Negotiating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Granted, these do not take into account the actual "market value" which may be quite different than the sellers perceived value and the listing price)

I received 3 offers on behalf of sellers I represent. These offers were for 65%, 72%, and 86%. The two lowest offers were rejected outright by the sellers without a counteroffer. The 65% offer did come up to 80% , but the seller was only willing to compromise at 88%. The 86% offer was countered at 97% which then was countered at 93% and then countered by the sellers at 96.7%. (However, this seller did just drop the listing price 17.5% the previous week.)

 Negotiating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Negotiating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What are the takeaways from this post? 

  • There are buyers in today's real estate market making offers
  • Few Leavenworth sellers are desperate to sell at any price
  • Very low offers will upset some sellers
  • Sellers need to be prepared for low offers
  • Sellers need to be flexible on price if they want sell in today's market
  • Buyers do not call all the shots in this market
  • In 2010 houses are selling for 94% of list, how does your offer compare?

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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.

 

Testimonials

 

Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
As reviewed on Zillow  – 

- Laura Anderson

 

 

As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
As reviewed on Zillow  –
 

- Jean Stern

 

 

Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
As reviewed on Zillow  – 

- Terry Foster

 

 

Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

As reviewed on Zillow  – 

- Ryan Olsen

 

 

It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

As reviewed on Zillow  – 

- Cammie Schlosser

 

Moving to Leavenworth?

Are you looking for a cabin or a condo in Leavenworth that your family can use as a home base when climbing, skiing or hiking around Leavenworth or Lake Wenatchee?

Maybe you rent a house here and have decided to stay, surprised how a summer of rafting somehow turned into seven years.

Maybe it’s time to escape the hustle of the big city (and its rain) and move to Leavenworth with its four seasons.

Maybe you bought a condo years ago, don’t seem to use as much, and it’s time to sell.

Whatever your motivation, we are here to help. If you are buying a home, the best place to start is with our Homebuyer’s Guide to Leavenworth.