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From buyers "on the fence" to "jumping over it" to make an offer!

By Dan McCurry

Real Estate Sales Representative with Keller Williams Realty

June 11, 2008 06:12 PM

Wow, what a change a couple months can make. A few months ago in Elk Grove ago we couldn't hardly get a buyer "off the fence" even by setting Fire to it. REO's were piling up and prices were falling left and right. Now every prospective buyer out there is throwing out offers like a paperboy on Sunday morning. Listings have 16 offers on this one, 10 on that, 13 on that....And they all want to buy the same thing that the investors are scooping up, Anthing under $250,000 that is in decent shape. Even the homes up to $350,000 / over 2400 sqft that are in good shape recieve a ton of offers. I've seen agents write offers for 45,000 over list and not get the deal.

I hear the are Many Many more REO's coming down the Pipeline by the end of the year and a a fair amount continuing until 2012. So have we hit the bottom of the market in Elk Grove / Sacramento or is this just a temporary buying spurt of people trying to catch the bottom?

What Do you think?

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Brian Solinsky

Keller Williams Realty - Puyallup, WA

CDPE, CNE, ABR

Glad to hear things are picking up in Elk Grove. I still have a bunch of buyers on the fence. Time to light it with interest rates creeping up.

Jun 11, 2008 06:21 PM

Lisa Hill

Florida Property Experts - Daytona Beach, FL

Daytona Beach Real Estate

Sounds like our market for the last year or so. The buyers pick the lowest priced listings on the market, then make an even lower offer. The only properties that are selling are the ones that are priced WAY below everything else. The buyers on want a steal.

It's getting old, really fast.

Jun 11, 2008 07:38 PM

Tony & Darcy Cannon

Aubrey and Associates Realty - Layton, UT

The C Team

Great to see that some markets are heating up!

Jun 11, 2008 07:41 PM

Randy L. Prothero

eXp Realty - Hollister, MO

Missouri REALTOR, (808) 384-5645

I have been hearing similar reports from a few other markets on the mainland. Our's never really dropped like there, so we are not seeing any major shifts here.

Jun 11, 2008 07:57 PM

Nira Tocco

Coldwell Banker Schmitt Real Estate Company - Big Pine Key, FL

WOW..that's great news! Hopefully the trend will make it's way to the Florida Keys real soon. Right now, I'm pretty much hearing all the horror stories associated with Short Sales. I have opted to stay away from them. I'll wait for the REO listings to come in. I already have a headache from the profession that I love, no sense beating it against a wall, too!

Jun 11, 2008 10:43 PM

Chip Jefferson

Gibbs Realty and Auction Company - Columbia, SC

Glad to hear it for you. It is the time for fence sitters to jump. My market is good so its not as pronounced but the rates are a great shaker.

Jun 11, 2008 11:02 PM

Lori Mode

The Mode Real Estate Group - Elk Grove, CA

Real Estate Made Simple

Dan - good to see you start blogging again! It's been great to see the market changing...buyers now seem to be looking at more short sales also. The homes that are priced way below market are getting multiple offers but also the ones that seem to be priced fairly are getting so much more activity on them. Every one of our REO listings are pending right now!!! I didn't think we would see this until spring 2009.

Jun 15, 2008 04:11 PM

Yvonne Nelson

Fidelity National Home Warranty - Sacramento, CA

Hi Dan, Great to see you today.

I plan on being at class next week also.

May we can put our heads together and figure out some great things to post. Yvonne

Sep 11, 2008 12:32 PM

From buyers "on the fence" to "jumping over it" to make an offer!

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