No, that's my house!

We have similar problem in So Cal. The builders cannot keep up with demand and prices are being driven higher and higher.

I'm glad it helped your clients get motivated! We have had instances like these and worked hard to make it happen for our clients.

You're on to something Lori.  We have been seeing more multiple offer situations in the Chicagoland area as well.  Great news for sellers, not always for buyers unless they're the lucky ones.

It is the same in Tucson.  We are seeing more new builds but inventory is still low and they seem to build only one model of each in the development at a time.  That will change as they see more demand.

We have had a shrinking inventory for the last year or so now.  It amazes me that some buyers seem to feel that the other party should step aside for them. We have a Ranch condo with a garage that is quite nice under contraact. Another Agent has buyer's who have had her call me several times in spite of the fact that I have repeatedly said that the due diligence period, the inspections and repairs and the closing are all right on schedule.

Betty

We can see a light at the end of the tunnel.  Market is getting better.

Great lesson to learn - there are others buyers buying in that market and in that price range.  Wish you the best with your clients. 

Im glad the situation get your buyers on the ball. Our market is really heating up in South Florida also.

Buyers are quickly learning, in many markets, that they need to get their stuff together quickly to stay on top of the buying game when there could be competition for the property their interest in.

Good to know the market is picking up in your area.  We do see homes move quickly in our area and certainly more than one buyer has missed the boat while thinking it over.

Yes, people lining up for the SAME house is a sign of the strengthening market.  Quite frankly, my wife and I own a second home in Peoria, so this is welcomed news!

Lori - I wish every community had a Cromford Report.  A few years ago I wrote blog posts for an agent (who has since moved back to Chicago) and I was fascinated by all the wonderful information I found there. 

Best success in being first with your offers! 

I have written on the same home for different clients before.  Never told them that, but there is a disclosure I give them that covers the situation.  I give them the same advise in regard to pricing and value.  I have even had more than that want to see a single home for sale.

Interesting comments from a wide area about reduction in inventory and increases in new home developments and prices, yet, I'm not as optimistic as many other AR members just yet.

Haven't experienced that here in SoCal. In fact, there are new construction homes in standing inventory on the market now. Surprised those haven't been snatched up yet.

Lori: That's all some buyers need to see. I had the same thing. Showed a buyer a house and, by the time we called to make sure it was available, it, in fact, would be under contract. Often it dropped back out. At that point you need to find out if it was the house's "fault" for the former buyer.

Lori:

It was actually a good think that that conversation was going on while your clients were in the sales office.  It was a good lesson for them.  They need to find the place they want and act quickly to buy it.

Good luck that is a hard price poing

Lori, we're having a ton of multiple offer situations here, too. I still don't think the market is in the clear yet. I think it went up too fast.

Lori,

I have also had several multiple offer situations here in the Missoula, Mt. area over the last 7 months or so but only in a narrow price range. Thanks for the post!