The thing with Beaverton, Oregon, short sales is they sometimes take a long time to close, but I do have to say that time is getting shorter. I think the banks are finally starting to figure out that they are actually making more money by acting and accepting these short sale offers quickly than they are if they delay, delay, and delay some more.
But, what happens when the unforeseen happens? A game of price starts to happen and the buyers are jumping ship almost as fast as they are presenting the offers. Recently I took a short sale listing on a street that had two other Beaverton, Oregon, short sales on it. These are really cookie cutter homes and all are within 10 feet of each other. It’s so bad, that once you are inside, if someone were to blindfold you and turn you around three times, you wouldn’t know which one you were in.
So, I have this listing and it gets an offer rather quickly as we were the lowest price home on the street, even if by only a thousand dollars, we were the lowest. But, before I could get back to the sellers home to get signatures, the buyer calls and says they are withdrawing their offer. OK, I guess the financing fell through or something, it happens.
But, a day later I come to find out they had written another offer on the cookie cutter next door that had just lowered its price to $2000 below ours the same day they put the offer in on my listing. They were going with the better deal. Now, I wish this was the end of the story, but we aren’t there yet.
The next day after that, the 3rd house lowers its price and you guessed it, the buyers are walking from home number 2 for the better deal on house number three. So do we now lower our price and continue this game to the point of ridiculousness or do we let that one close and just wait?
Todd Clark (Broker/Owner)
The Friendly Home Team
Realty Pro, Oregon LLC
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
What if there was a way you could search the MLS for FREE just like Realtors
Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!