We’re Having a Short Sale Party
I was out showing properties today in Oceanside and Vista, most of them short sales, and you would have thought homeowners were having a short sale party by the number of people in and outside the homes, and the cars lined up and down the streets.
Of course these are not happy situations for these homeowners, for a variety of reasons, but the volume of activity was like a neighborhood party.
All of these homes just hit the market late yesterday, and are priced well in the mid $300,000s, and buyers and agents were out in droveson a rainy So Cal day.
It’s clearly yet another indication of how competitive the market is getting, at least in our lower price points.
It can be a bit disconcerting for buyers who are not really aware of what is going on out there. Walking up to a new listing in your price range and desired area, only to see multiple parties also exploring the home is a mite off-putting.
While not everyone looking at a property will make an offer, we are seeing multiple offers, right away, on well-priced properties, so buyers must realize that they WLL be competing.
And they will have to make a move right away. Or you will throw up your hands at another home that got awat!
It's scary if you are not prepared.
Buyers need to be prepared, emotionally and psychologically, and ready to make a strong offer based on a sound home buying strategy and discussion with their REALTOR, provided they are serious, have a pre-approval in hand, and proof of funds.
This is NOT a party, it’s serious business!! Save the party for after your closing.
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