Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
“Winning” – the Charlie Sheen song (on ITunes)
Competing with Cash
I have recently had Portland metro real estate listings that have received cash offers AND I’ve been representing buyers in multiple offer situations up against cash offers. It’s just not fair (unless you are the buyer with cash)! 29% of all sales in the US made in June and July 2011 were cash. How does a buyer who needs a mortgage compete with a cash buyer? And, why the “uptick” in cash offers. A sideline note: have you looked at the stock & bond market numbers lately? Many people are “parking” their money in real estate instead of the stock market.
Perhaps you’ve been looking for a home for months after thinking about it for years. You’ve found the home you want and meets your family’s needs. You write a contract but before it’s even presented to the seller, another offer comes in. With all the homes on the market, you’d think you wouldn’t have to deal with multiple offers but you’d be surprised how many times it does happen. A sideline note: why does this happen??? Because this particular property is priced competitively and is in “show” condition. There’s no secret…just location, price, condition!
If it’s a short sale or bank-owned (foreclosure), competing against a cash offer can be a bear!! In a short-sale, the bank wants that property “off the books” and the short-sale numbers and situation have to be less expensive than the looming foreclosure. If the bank has just repossessed a property (at some expense) and they want a sure bet on a substantive offer that lessens their losses.
There are some strategies that can (at least) compete with the advantage of an all-cash buyer.
1) Get pre-approved and submit the letter from the lender with the offer
2) Move fast to minimize competing with other offers
3) Make an over sales price offer. Money talks….
4) Use an escalation clause (you will pay “x” amount of money over any verifiable offer up to “x” amt)
5) Submit larger than normal earnest money to show your sincerity
6) Be as flexible as possible about closing and possession
7) Avoid unnecessary contingencies in the contract
Write a letter emotionalizing why you want the home
It’s a “dog-eat-dog” world out there right now. Can anyone explain what “dog-eat-dog” means????
About the Author | Janeese Jackson
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