I know, I've been going on about this lately, but I just want everyone to know. I've been manning the calls at Elite Properties lately and we're getting a lot of them. These are - by the way - interested real estate buyers, first-timers, investors, you name it - and not the tire-kickers we've been used to seeing in the last few months. (With apologies to all the serious buyers, I don't mean you. Obviously.)
Anecdotally, I went out to write an offer for a client I've been working with forever now. She's been looking in the Anatolia area of Rancho Cordova and was stuck on the waiting side of a short sale for a while now. Well, when that period finally ended, she decided to go after REOs and new homes. This is what has happened so far:
REOs: multiple offers
New Homes: multiple offers
So anyway, to get back to the story, I went out to Anatolia to write an offer. Since it's a new builder, I had to do it at the sales office. Can you believe the house had three offers and it sold (with a counteroffer) twenty minutes before I got there?
Now this is the kind of the market I remember!
Take my word for it, buyers - you wait too long, you're going to miss the deals. The asking price on short sales means nothing if you don't ever hear back from the banks.
Monday, March 24, 2008
Sacramento Market Heating Up!
Subscribe to:
Post Comments (Atom)
2 comments:
Will May 2012 be waiting too long? I think that is when I will jump back in.
Little anecdote for you:
Sold my house in Sept 06 for about 40K less than what I could have got the year before. Today I see one house in that neighborhood has sold in the last two months. It is 200 SFT larger than mine was, and sold for almost 30K less than mine, which had an 18-YO roof that needed to be replaced! The last one "sold" in that larger model went for about 35K more a few months ago - apparently as a deed-in-lieu!
I think I will keep waiting - thanks!
Agent #777,
I am obviously not denying that prices are down.
However, as many Realtors (and home buyers) will tell you, the competition for many REOs is pretty intense in certain areas.
It is a personal choice when you want to "jump back in," but many investors are buying up properties today.
I'm just reporting what I see happening in the real estate market.
Post a Comment