Multiple Real Estate Offers In Nashville TN

It seems that with all the media coverage on the latest negative topic, being the new flu pandemic, that the focus on the negative real estate stories has dimished to almost nothing.

The latest news coming out of Nashville is that the real estate market is very active again. The real estate cycle of ups and downs has continued on its normal path and now the buyers really and truly have the upper hand but tha can lead to some interesting scenarios.

As the buyers look at all the homes available in Nashville there is one sure thing....that some homes are the equivilant to diamonds in the rough...meaning that some homes will always shine out from the crowd because of their location, the condition of the home, the way the current owners have decorated the homes, the landscaping etc

The sellers of these homes have no option but to fall in line with the trend for declining list prices and as such can't price their homes above the rest of the comparable homes because on paper they are just another home in a real estate market with lots of other similar homes i.e. 3 bedrooms, 2.5 baths, 2000 sq ft built in 2001 etc

So now when a buyer starts to look for homes using the internet at sites like www.NashvillesMLS.com, www.NashvilleBuyers.com, and www.Nashvilles-Real-Estate.com they will see all the homes in their price range and basic parameters appear. So our little diamond will have to be priced according to the rest of the market and as such will that when a buyer is looking for that typical 3 bed 2.5 bath, 2000 sq ft built in 2001 then they will found our diamond....assuming the list price is in line with all the other homes with the same profile.

Lets say the list price for the comparables falls in the $200-220,000 range. If the diamond home is that nice and the sellers have taken meticulous care and improved the home then they can justifiably list their home at the top of the price range.  Now when the buyer comes along to view all these homes they will have to make a judgement call. Do they want to buy a home that is cheaper but that is in need of a lot of updating, renovation, and financial investment or take the home in move incondition! Most of the time people will err towards the home that requires the least amount of work and has the best location. What appeals to one set of buyers will also appeal to another set of buyers and so the demand for the home increases as more and more buyers see it in comparison to other homes with the same profile.

As the buyers review the other homes and settle on making an offer for the nicest home the pricing becomes really important. The current mindset of buyers is that everything is way over priced and that all the sellers are desperate to sell and they are on the edge of foreclosure

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