I still shake my head over the current real estate market. I have a listing, a nice townhome that is getting very few showings. And I had a new listing that went live this past Friday that was under contract within 24 hours after the first three showings produced three offers. Within the next 24 hours we had a backup offer that includes a $10,000 option.
Some homes are gone in an instant. This one was priced well, it looked great, and was in a nice subdivision. The townhome? Probably priced just a bit high for its condition and located inside the perimeter.
It really is all about location and condition. It also explains why many agents are complaining that their business is slow. If they list a property and it is not priced well or the condition is not optimal, it is likely to sit on the market for a bit, despite the low inventory induced craziness.
Well priced homes in good condition are right now, gone in an instant.
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