This ocean view home just closed in Manzanita but you wouldn't have seen it online. We sold it off market, like many homes in the last year. What is happening here?
The market is tight. Inventory has been running at a record low for over a year now. Often times there are ZERO homes for sale in Manzanita, Neahkahnie, Falcon Cove and Arch Cape. Any home that comes to market will create an intense bidding competition. This makes it hard for buyers. It makes it especially hard for buyers that do not have active tuned in and connected local agents. But that does not mean that homes are not selling. They are.
Why would a seller want to sell off market when they could drive the price up though a bidding war? It's pretty straight forward really.
Many sellers ask us for a CMA prior to listing. When we agree on the market value of a home in this market, some sellers ask us if we can bring a buyer as well if they can meet that price. They simply don't want hoards of eager buyers tromping through their home. Understandable. Some sellers feel that if they can get their price they would prefer an off market sale.
And so it goes. Buyers that have cash, or cash in the form of a HELOC for example, may very well be inclined to meet the sellers price. In that case, the buyers avoid the stress of competition but pay a premium and the sellers avoid the hoards.
For some buyers and sellers this is an ideal situation.
If you are reading this and fall on either side of this equation, the only piece that is missing is us. If you are looking for a home, or wish to sell your home, you have options with a well connected broker. We do more business than anyone in this area and are very well positioned to assist. Please feel free to call us with any questions. C+M
