The housing market is so hot buyers are paying $1 million over asking price | Seattle RE Podcast

What do homebuyers have to do to get a house in this cutthroat real estate market? Offer sellers a Caribbean vacation? Bid $1 million over the asking price? Pay a competing bidder hundreds of thousands of dollars to walk away?

What about buying two homes just to live in one?

Believe it or not, these are real offers. And sometimes, they actually work.

"You hear about buyers throwing sweeteners into the mix -- wine, dinners -- to get the house," said Esty Perez, an agent with Knipe Realty in Portland, Oregon. "Then, along comes a buyer that is like, 'Hold my beer.' Let me take this up."

Perez said one of his clients was in a bidding war on a $530,000 home, and offered $25,000 over the asking price.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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