With little inventory,
multiple bids above listing prices are more prevalent today than any time in recent history.
Not exact matches
In fact, according to a report this week, Penn West Petroleum received
multiple bids for its Viking assets, with those
bids reportedly coming in C$ 100 million
above analyst expectations.
This led to
multiple - offer scenarios,
bidding wars, offers well
above the asking price, and other hallmarks of a classic sellers» market.
However, things did not go his way after the Reds turned down
multiple bids of
above # 100m to keep hold of his services.
If you were in a
multiple - offer situation, you likely had to
bid at, or
above, listing price to nab the property.
Although other artists saw their works
bid well
above the estimate range the
multiples on those works were nothing like the prices paid for works by Zao Wou - ki who saw
bids up to 10x the high estimate.
Inventory is so low that I've resorted to yellow letters, and I've been in many
multiple offer situations where I was outbid despite
bidding 10k +
above list price.
Yet despite a preponderance of
multiple bids and offers
above asking price, today's home sellers are twice as likely to choose an offer based on emotion rather than money alone, compared to pre-recession years.
Overall, buyer traffic is 25 percent
above a year ago and sellers are reportedly receiving
multiple bids and historically low mortgage rates are keeping housing affordable.»