Going Going Gone | Homes Selling ABOVE ASKING PRICE When a record low number of available homes is matched with fierce pent-up demand, it results in an auction where homes sell immediately and for more than their asking prices. It is common for homes that are just placed onto the market to receive dozens of offers to purchase, pushing up home values at a rapid pace. A WARNING TO SELLERS: Carefully pricing a home is crucial to obtaining the best outcome regarding price and terms. Pricing at or slightly above the last comparable pending or closed sale will expose the home to the largest buyer pool. The auction that follows will have buyers competing against each other to achieve success. This results in sales prices above their asking prices, and in many cases, way above their asking prices. Stretching the initial asking price considerably above the comps may still result in achieving the ultimate goal in selling; HOWEVER, it will be at the expense of not obtaining the highest and best price and terms. 00:00 Beginning 00:30 Introduction 06:49 Orange County Housing Inventory 07:38 Orange County Housing Demand 09:17 Orange County Housing Expected Days On Market 11:42 Orange County Luxury Housing For more detailed information, send your questions to realestate101@ronevansrealty.com. Ron Evans Broker Associate Amy Sims Real Estate Team DRE: 01965556 949.929.2270