Market Update: This Weekend’s Bidding War

This past weekend, there were two offers on a house in Madison; after 5 months, it finally found its level and two buyers were confident enough to rally for it.  There were other buyers that wanted it but could not bring themselves to compete.  So what happened here? 

These were motivated sellers that wanted to sell, acknowledged the market shift and, after many painful months of showing their home with no offers, realized that they were chasing the market.  Finally, the buyers recognized value and were ready to talk…compromise and come to a meeting of the minds.

Martha McDonnell
Lois Schneider Realtor
Summit, NJ

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