OK! I have written 5 offers this month with different buyers on REO and Short Sale properties! There has been a bidding war on each property with the competition being anywhere from 2 to 11 offers on these homes. Now buyers have to write over the listing prices in order to have a chance to purchase a home! I think listing agents need to list these properties at a realistic price. 
This is worse than the previous market because not only do we have to deal with the multiple offers but we have the frustration of waiting for the lenders to make a decision! The values will steadily increase and if buyers do not come up to the plate and offer at list price or more then they will not have a ratified contract. We will start hearing from buyers again the "I can kick myself now for not offering more" syndrome!
My buyers are not coming up to the plate! This is my Frustation! I guess they will have to learn the hard way!
There is new NAR MLS rules that may soon be coming about. Go to Inman News and find out the scoop!
We are in the same market as before but with lowers prices!!
Comments(5)