Page 11 - November 2021 Issue.indd

for silicone chips and the impact the shortage is having on the offer for a property with a trigger that puts it in motion. Th e
automobile industry. trigger is pulled when a competing off er is submitted to the
seller that is greater than your offer that automatically increases

This brings us to the $64,000 question, when will real estate

your offer to an amount greater than the other offer, say $1,000.

prices stop going up? And the sister question to that question,

once they do how far will values go down? If I knew the answer A sure sign that real estate prices are leveling off is when houses
to that question, I would be getting paid a lot more for my stop selling at prices over the listing price. Not too long ago
opinion than I am now. But I do have a few things to watch it was considered a good sellers’ market if the sold price was
out for that can be indicators of a slowdown or easing of price 90-95% of the list price. Today sold prices start at list price and
increases. go up from there. A strong indicator that demand is stronger
than supply.
Multiple offers with escalation clauses have become prevalent in

many areas of the country including ours, giving sellers options This is much different than the overheated marker of the early
to consider. When sellers have the luxury of considering several 2000’s when demand was strong because of the availability of

offers on their property, they will obviously choose the one that easy money, but there was a much larger supply of houses on
nets the most money in the shortest period of time with the the market, especially new construction subdivisions. Look
least contingencies. around the Mid Shore, and especially Caroline County at the
number of new subdivisions that popped up in 2003 until
Cash off ers attract the most attention, like they always have. 2008. Look at the prices that were being paid. It was like the

Cash offers with an escalator clause stand out like a sore thumb wild west with buyers coming from the western shore paying

to sellers, and if you can make an offer like this the only way you prices local people could not begin to pay.

lose is if another offer is higher than yours, and it is for cash.
Escalator clauses establish a buyer’s minimum and maximum
Queen Anne-Hillsboro Volunteer Fire Co.
Sportsman’s Bingo

Saturday, November 20

Doors Open & Silent Auction at 5 PM / Games begin at 7 PM
Silent Auction • Pull Tabs • Raffles • 50/50

Food and
Prizes include: Non-Alcoholic Drinks available
Guns BYOB

Gear Non-Refundable Tickets:

$35 in advance; $40 at the door
and more... (seats are limited to ticket holders only)
Advance ticket sales:
NICS check on site http://www.qahvfc.com or contact:
Brenda Murphy at 443-239-9573

Event
Ridgely Vol. Fire Dept. Engine Room
Location 101 Sunset Blvd., Ridgely www.qahvfc.com

NOTICE: This event will comply with statewide COVID virus mandates in effect on November 20 regarding
masks and social distancing.

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