I have been so busy with the REO side of business I haven't had any time to write. Lately I have been getting 30-50 Broker Price Opinion requests a week. Add to that the 20 something clients I am still working with and sitting still long enough to write on the blog is a dream.

Just wanted to share somehting that I haven't seen in a while. Multiple offers on houses. I have a few clients in the sub $200K range who have been looking and we have been writing offers on REO listings. We are looking at properties that have just been listed and by the time we get back to the office and I cal lthe agent there are 4 to 5 offers on the property and the bank is going to counter with the "best and highest" counter offer scenario.

Scared me at first as I had flash backs of a few years ago. Then I realized that actually this could be a good thing, that maybe this is the bottom of the market. The homes we are looking at are 3+ beds, 2 baths, 1 car garage or larger and built in the 2000's.

I still hear buyers saying they want to wait for the market to hit bottom before buying. If I were to show one of these houses and the people I was with said that they wanted to wait for the prices to hit 150,00 I would probably have to tell them they are not likely to find a house. At 185,000, we are seeing multiple offers on the properties I am looking at.

Well got to run. Told you it would be quick. ;P

John Calvert

Desert Sun Realty