42 accepted offers: June 25-July 5, 2012

42 accepted offers  over a two week period, how’zat?  I’d call it good, not great, but for summer time, I’ll take it.

Among those 42, we had

1 land listing

3 multi-family buildings

7 Clark Street, Old Greenwich. Broker Julie Church lists for $3.2M and bingo! Accepted offer.

4 thoughts on “42 accepted offers: June 25-July 5, 2012

    • anon2:
      Since no one tracks that sort of thing, I can only give you my “impression” of the fail-rate of accepted offers; my impression is that it is extremely rare, perhaps 1%.
      When those rare occasions DO occur, we brokers notice it immediately, because the notation (located at the bottom left of the listing photo) suddenly switches from “AO” to “Active”. Plus, the listing broker usually scrambles to get the word out that the previous deal has fallen through, so please show this house! (The most common way to get the word out is to run another broker open house).

      So a failed deal is a HUGE deal. They’re rare, but they do happen.

      • I’m surprised that (a) no one tracks that sort of thing and (b) it’s rare. I would have guessed in this day and age of money being tight and mortgages being harder to get, the fail rate would be larger. No cold-feet syndrome or bad inspection panic?

      • anon2:
        All that you say is true, these things do indeed scuttle the occasional deal. Perhaps Greenwich sees fewer problems because our buyers have more money, borrow less (or not at all)? Not sure. I do know that, by the time my clients are at the accepted offer stage, they are well aware of their financing position, otherwise they wouldn’t have made the offer.

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