It’s been crazy for a while, but it’s getting even more insane. Two weeks ago we wrote an offer for a client in East Salinas. This is not the pretty part of town. The home was priced at 119,000. Our buyer offered 150,000. Not good enough. Why? Because 21 other offers were received on the same house and the only ones considered were the 5 all cash offers.
This week the same buyer picks another East Salinas house to make an offer. This one should be easy. It’s an REO, but the bank is having trouble kicking the owners out of the house, so it’s for sale “subject to inspection”, meaning whomever buys it will not be able to examine the interior until after the offer is accepted by the bank and the previous owners have been removed. That should keep most buyers away, right? Nope, 7 offers in 2 days! It’s not uncommon to talk with people that have written 20 plus offers and STILL don’t have a house. With the deadline coming up on December 1st for the first time home buyer credit, people are getting panicky about finding a home and closing escrow.
brilliant article here at http://montereyhomesblog.com/2009/07/17/yikes-the-buyers-are-stampeding/ . Thiking to translating your writing into japanese for our visitors. Will let you know after I talk to our writers. Thanks.
I am reading this article second time today, you have to be more careful with content leakers. If I will fount it again I will send you a link