Between the soaring housing prices, plummeting inventory, and insane bidding war stories, we keep hearing about how crazy the Seattle housing market is. So we've asked local real estate agents, sellers and buyers to share their nutty stories about a recent home sale or purchase to prove just how true it all is. Do you have a crazy story to share about prices gone mad or ludicrous offers? Let us know and we might share it.
Our latest tale comes courtesy of Windermere broker Brian Landreville about a recent sale involving a house we’re familiar with.
Year Built: 1936
Size: 3 bed, 1.5 bath, 2,540 sq ft
Listing Price: $785,000
Sale Price: $955,000
If this Cape Cod looks familiar, it’s because we featured it as part of our PriceSpotter guessing game back in June when it hit the market asking $785K. It caught our attention because it was originally designed by Fred Anhalt, whom The Seattle Times included on their list of the 150 most influential people in Seattle history. It’s classic style, tucked away behind a white picket fence, also made it stand out for it’s vintage charm.
So what happened with the sale?
According to Windermere broker Brian Landreville, the home received six offers, four of which were cash. Three of the offers topped $900K. Part of the reason they were able to get a good number of offers and at such a high value was because the sellers paid for their own pre-inspection and made it available. That cut down on that as a barrier to entry and meant the sellers didn’t need to worry about any surprises.
Despite the cash offers, the winner was a finance offer that waived financing and turned the earnest money into a non-refundable deposit paid directly to the seller at mutual acceptance. That offer: $955K.
The easier you make it for the seller, the easier it is for them to accept your offer.