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Tait Zimmerman
(907) 519-0043
tait@advantagealaska.com
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Monday Morning Mojo: I Paid $15k Above Asking Price



 

Hi everyone! It’s been awhile since I’ve sent out a Monday Morning Mojo update (rather than my regular Market Trends emails), largely because this last year has been CRAZY busy. But it’s a snowy day, I feel like writing, and it’s about time! 

So back to the headline.… Last spring my wife and I paid $15k over asking price for a Talkeetna property. Why? Crazy?

I’ve advised buyers over the years in multiple offer situations that, since they don’t know what other buyers are offering, the best approach is to determine at which price they would be comfortable walking away from the property, and then offer just below that. This gives them the best chance of getting the property, without paying more than they are comfortable paying. Obviously a great deal depends on the property, how much the buyer really wants it, etc.

So back to the new Talkeetna property. I had just set up a personal search for investment properties a couple days before with automatic notifications for properties under $200k. An email came in for a home and cabin under $200k, and the seller was willing to offer owner financing. Lauren and I have crunched the numbers on a bunch of properties over the years, and usually they just don’t seem to pencil out to her (she’s my in depth numbers person). But this time, she couldn’t find anything wrong with it which was promising.

We drove up right away and checked out the property. The property was, if anything, better than expected. The house was rented out and the cabin was ready to Airbnb. We wrote an offer. Two other offers were also received by the seller. We upped our offer considerably, waived certain provisions, and sweetened our terms. And … won! 

The property has been awesome so far. The cabin was booked solid throughout the summer and fall, with a good amount of bookings through the winter, and next summer is already filling up! 

When should you consider paying above asking price?

– If you know you are competing against other offers
– If you know the market, market prices, and availability of a particular type of property
– If it makes sense after you crunch the numbers, if you’ve crunched the numbers on a number of other properties, and if you know at what price the property makes sense for you
– When you are not fixated on the list price, and realize that it is fairly irrelevant to the actual market value
– When you understand you are currently in a hot seller’s market

If you have any questions on purchasing a property, investment properties, or what’s involved with running an Airbnb, I’m here for you!

Tait Zimmerman
Advantage Alaska Real Estate
www.AdvantageAlaska.com
907-519-0043

“Your home sold in 90 days, or I’ll sell it for free!”

P.S. ~ My goal is to always do an excellent job for my clients. If I’m doing a great job for you, please consider passing my name on to others who are looking to buy or sell real estate in the local area

Awesome helping repeat customers George and Cindy sell their Anchorage condo in 12 days, and Monica get into her first home! Real estate is the best!! 🏠 🔑 🎉

Cindy & George (sellers) & Monica (1st time home buyer) January 22, 2022

 

Posted in: Monday Morning Mojo Tagged: Advantage Alaska Real Estate, Monday Morning Mojo, Tait Zimmerman

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What Our Clients Say

Awesome helping Chris sell his home! 100% of asking price in 4 days on the market!!

Chris

June 1, 2023

So cool helping Jacob and Meghan buy their home 5 years ago and now sell it in 4 days for 103% of asking price! Congratulations!! 🎉🏠

April 23, 2023

Loved helping Hugh and Linda sell their home so they can move on to the next adventure! Sold in 27 days!!

April 23, 2023

Wonderful helping Mike sell his home in Peters Creek! As much as I don’t like challenges during a transaction, they certainly make getting awesome feedback from a seller at the finish line that much more rewarding!!

Mike April 4, 2023

Sold in 106 days on the market (average for commercial that sells in this price range in Anchorage is 136)! Let me know if you'd like to buy or sell in the Anchorage/Mat-Su Valley areas!!

6239 B Street February 4, 2023

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Bridgett January 2, 2023

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1330 E Bogard Rd., Wasilla, AK 99654

(907) 519-0043
tait@advantagealaska.com


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