Being a listing agent along with my wife, we have seen a shift in offers we are receiving. Last year we would be inundated with Low-Ball offers. As much as 30% below the market value we had a home listed at 265,000 and got an offer at 172,000 and asking for cost to boot.
If you have been reading my Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley ActiveRain blog you know inventory is very low and continues to drop these days. I have read recently inventories are low allover the place and offers are coming in at list or higher now. We started seeing these at list offers about five weeks ago and now they are inching high then list.
With supply at historic lows and buyers are coming into the market they must know what there up against. They must be willing to go higher to win the deal. As a buyer agent I’m always reviewing the pricing trends with my buyers making sure they have the best chance to secure the deal. Nothing is more frustrating then putting in offer after offer and not getting the home you have fallen in love with.
I’m confident the market will start to see more homes become available in the months to come. With that said, I do believe we are going to see price climb as well.
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