Can I Buy Your House, Pretty Please?

In Chicago, San Diego, and other markets that are heating up and seeing multiple bids, buyers once again are penning letters to sellers to explain why they love a home. Pitch letters, which typically include personal photos and heartfelt language, seek to forge an emotional connection with the seller and give the bidders a competitive edge. The strategy worked for one couple who recently put in an offer on a three-bedroom townhouse whose offer was less than those submitted by 11 other buyers. Detailing why the home was perfect for them and their soon-to-be-born first child struck a chord with the seller, who is the father of a toddler and wanted the home to go to someone in a similar situation. With home prices up for the first time last year since 2006 and inventory at low levels, Redfin CEO Glenn Kelman says, “The market has gotten so crazy that money alone doesn’t talk.” | Read More