Most of my business is in the North Metro Area of the Twin Cities. Anoka County, Isanti County, Sherburne County and Chisago County for example.
In these areas I thought I would describe the market with some words or phases buyers might say or think. Then I will translate or pull out my crystal ball for an answer.
Buyer:
"Nothing in my price range","Waiting for a deal to come up","Where are all the bank owned homes", "I thought there would be good deals on bank owned homes", "There can be multiple offers on properties?", "Why didn't the listing agent tell us another offer was coming in?"
This buyer list could go on and on.
Here is what my crystal ball says. There is very low inventory and there will be no better deals that come up that you are able to buy in the near future. The good bank owned listings will sell with multiple offers over the asking price. Listing agents will typically let you know if there are multiple offers but they dont have to as it is not always in the sellers best interest to do so.
Final note. The $100,000 and under price range for homes is almost gone. Hundreds of buyers competing for 6 houses...
Comments(1)