This is a buyer's market? Here comes the thundering herd!

Multiple offers on REOS.

Multiple offers on Short Sales.

Multiple offers on Regular Sales.

Thiis is a buyer's market?

Yes, we tell buyers it's a good time to buy. Many of them agree. After all, prices are lower. Interest rates are lower. there are many choices. But there are also MANY buyers.

Not that there's anything wrong with that (if you're the listing agent). But it's mind-boggling how many times my buyers and I have had to compete to buy property.

Anything under $200-300K for a detached property (not condo or townhouse) will generate a lot of attention and offers.

In Alameda CA, if we find a house under or in the low $500K, that will get people's pulses racing. "A deal!" People say. So they rush and write an offer. Then we find out there are others who are thinking the same thing. And it becomes a contest.

My buyers are devastated. They didn't expect they'd have to compete --- AGAIN! Not in this market! And on REOs?

So we're in a mad dash to find a suitable property. Today, I had 4 separate appointments. It was exhilarating and enervating at the same time.

NEWS FLASH:  The buyers are coming! The buyers are coming!

HEADLINE: If you price it right, the buyers will come.

REALITY CHECK: Expect multiple offers.

CHANCES: Better if you don't low ball the offer, especially on REOs where they are already priced low.