This morning while out showing homes to some very motivated clients, we happened upon a scene that I haven't seen since around mid-2005. After viewing 3 or 4 rather lackluster homes on this rather rainy day in Northern Virginia, we drove down a hill and around the bend to a cul-de-sac. At the end of this street stood a home, that on paper looked very good. Indeed, my clients reviewed the MLS printout and decided to skip the rest of the homes on our tour and head directly to this one.
Since this home just came on the market yesterday, we didn't expect the chaos that shortly ensued. As we pulled in to the cul-de-sac in this usually quiet and not-so-trafficked residential area of Falls Church, we knew something was different when we saw 8 or 9 cars parked all around the circle. And in the center, standing out in the drizzle, was an agent speaking to her clients (the stack of MLS printouts and reflection of the REALTOR pin on her blouse gave her away). As we entered the home, without having to use my lockbox card, we were greeted by the site of an agent hurriedly telling her clients over the phone that they "MUST come right now to see this home!"
Upstairs and downstairs we ran into other agents and their clients viewing the home. Unlike other foreclosed homes that I've viewed, this one was crawling with clients-- not cockroaches!
I quickly followed my clients through the interior, peeked into the backyard, until I received "the telltale wink" from my clients that meant "Let's go write an offer! NOW! We like this one. A lot."
And they should. The previous owner paid $840,000 for this home in December 2005. It's on the market for less than half that price. We left the house, dodging agents and homebuying couples on the way out the door. Everyone viewed each other with suspicion. Are they going to write a contract? Can we get one in too? What should we offer?
We hit the gas and peeled out (not really -- that just makes the story sound more exciting) and raced back to write an offer. My clients lender e-mailed me their approval letter. Initials. Signatures. Ready to go.
The listing agent returned my call. 2 offers already received. He's gotten tons of calls. And why not, at this fantastic price?
I e-mailed my clients offer over to the listing agent, and now we've got our fingers crossed and we're waiting.
A Rainy Day Real Estate Agent Traffic Jam!
What does it mean? Buyers getting off the fence? Is it a fluke or is it a sign of things to come and sunnier days ahead?
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