The activity in Elk Grove remains high with investors competing with families to pick up the little inventory that that is finding its way to market. Short sales, a long time frustration for home buyers often become the better option as banks clearly prefer cash offers to avoid rists associated with financing. Further with full price and often above market offers, avoiding the need for appraisals is a must. Investors seem to be willing to pay above a properties potential appraisal value, believing that property values are underpriced and will soon appreciate past the high cash offers.
It all spells frustration for real people wanting a home... the kind of buyer that would in fact stabilize a fragile real estate market.
It may be a long spring for home buyers looking to purchase a home in Elk Grove.