Multiple offers in Tight housing Market, Tampa, WPB, Miami

By
Real Estate Agent with Equity Realty- TVG

This just in from FAR, I found it so true as my phone is ringing more than it has in the last 3 years. things are looking up.


From FAR:

Bidding wars are back as the housing market continues its recovery.

After years of lackluster sales and sagging prices, demand is growing while the number of homes for sale shrinks.

Those market conditions drive multiple offers in many areas, but real estate agents and other housing followers say sellers still can take practical steps to boost the level of interest among buyers.

• Price it as low as possible. Many sellers and their agents obviously underprice homes to attract bidding wars. Douglas Rill, a broker at Century 21 America’s Choice in West Palm Beach, Fla., refers to the tactic as “drama pricing.”

Rill said he was instructed by the lender to list a West Palm Beach home with a leaky roof and other problems for $37,600, even though comparable sales supported a listing close to $50,000.

“Do you know what that does to my cell phone?” Rill said. “It blows it up.”

The bank’s strategy worked. More than 70 potential buyers toured the home, which eventually sold for $51,000... End Quote


here in the Tampa bay area last year at this time we had 9 months worth of inventory, as of today in many of our markets we are down to 60 days and in others down to 30 days, our graph and statistice show that many of our areas are "sellers Markets" I know its crazy, but so true, many of these sales are not short sales or foreclosures many of these sales are just regualar old sales.


I for one welcome this change as we have been hit hard, all the Realtors that stuck around through the tough times will soon see their reward., my only fear is those that quit will now start coming back.




Posted by

                       

                                                           

Jesse Vasquez

Team Vasquez Realty Group LLC

Graduate of Realtors Institute

801-440-3100 Cell

888-418-8889- Toll Free

407-706-5233  Efax

jesse@teamvasquez.net

www.mynewtampahomes.com

www.jessevasquez.net

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