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Another look at hurry up

Posted by Rona Fischman March 10, 2011 01:55 PM

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My advice about handling the hurry up was aimed at people like Beantown Living.

BeantownLiving wrote:

We are running into this [hurry-up tactics] in our target area, and it makes me want to run screaming in the other direction. There is actually one agency that seems to do the "all offers due by noon on Monday (or whatever day)" on all their listings in an effort to spark bidding wars. With the slim (good) inventory in our area right now, it seems to be working. We refuse to emotionally overpay, so we can only hope for better Spring inventory.

Beantown is not the only buyer facing a wall of “hurry-up” on any well maintained house within miles of good commuter zones. Where are you seeing the “hurry-up”?

On Thursday afternoon, I took another look at the nine new listings I showed last weekend.

The following properties are now under agreement or flagged with a signed offer:

One of the two “we already have an offer” places.

Four of the four proposed bidding wars.

Of the six with hype, five are claimed by buyers.

huflungpooo and Lance insist that we are in a seller’s market, where buyers hold all the cards. However, in the small cities and towns near Boston, there are large markets with inventory shortages. I am hoping that the spring inventory will include those fed-up with maintaining their empty nests. At this point in the market, there is a seller’s market in many areas. Buyers need support for “just say ‘no.’”

Were you out house-hunting and feeling the need to flee, like Beantown? Can you shout: “Just Say No to Bidding Wars!” or do you feel like you are not holding all the cards?

Where are the seller agent pockets? I have seen them in some price ranges in Lexington, Belmont, and along the Red Line in Cambridge and Somerville. What about you?

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Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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