Real Estate can often be a baffling business, even to real estate agents. To explain, I am working with an investor that buys a home each year, fixes it up, and rents the property. We are usually looking for properties under $100,000 that needs much work.
In the past, we have found and made offers on homes most others did not want. Today, however, the times seem to have turned against us. Several times in the past 3 months or so we have located a suitable property that has been listed for months and months. We like these because they do need lots of work and this is right up my clients alley.
We found one this week that has been listed for 250 days that would work for my client. We started the process of writing an offer. Before we could get very far into the process, the property went under contract. After 250 days on the market. With no activity. Within 24 hours of my showing the property. Darn.
I am now starting to look over my shoulder when I show homes. I get the uneasy feeling that I am being followed! Seems like as soon as I find a property that has been on the market forever with no interest, 50 agents come out of the woodwork, clamoring for the same property!
Just another interesting note about the Real Estate market as seen by me at den Boer Homes.