Take a number! I hate to say that to buyers but that is really where we are at! It is crazy right now in the Valley. We bid, and we bid high and we try to get a house, and NOTHING. We are out bid, better offer, better financing (or most likely cash offers), and the buyer gets more frustrated. Don’t feel bad the agents are frustrated too. I hate writing an offer and then having to tell my first time home buyer that they didn’t get the house they really liked….Over and Over and Over.]
But on the flip side of that we are getting offers on homes that are over priced and they are selling! So what does this mean? Has it become a sellers market? In a way, YES. Even if you are underwater in your home they are selling and banks are working with the short sales! Whew, this might mean that we are working our way out of a very down economics. Are we out of the woods, I don’t think so, but I think we are moving in the right direction to home ownership! Now if we could get our buyers to own a home!!!