No, Overbidding Is The Norm?


#1

#2

Over 50% of the homes I bought are at or under asking price.


#3

How many were original condition or needed updating/renovation?


#4

So weak, all my homes were bought privately, so at asking price…:grin:

.


#5

Both houses I overbid on were money losers


#6

I had to buy a lot more than just 3 homes like you…


#7

Lighten up, Master…


#8

I think all of them… :rofl:


#9

Overbidding doesn’t necessarily mean loser… I had to overbid 20% for a fixer one time… but that was still a deal.


#10

Interesting… My suspicion is that renovated homes command a premium and are the ones that are bid up. maybe fixers are bid up less if at all.


#11

Sometimes the fixed up ones are the ones asking too much and had to cut price…


#12

So what?

Overbidding or over paying have the same consequences during the next recession. It all depends on the RE guy handling your listing. One thing is for sure, he doesn’t care, he sells, he earns, he buys, he earns.


#13

#14

How can a Realtor make a living with so low inventory?

Rob a bank?:smiley:


#15

In LA, any house/lot under 2.7 gets an overbid. Help find me some private deals, @wuqijun and i will forfeit your bitcoin lunch :slight_smile:


#16

Number of realtors declining

https://www.quora.com/How-many-real-estate-agents-are-there-in-california


#17

That makes sense with low inventory and transaction volume.