We're in a Crazy Real Estate Market Once Again!

Sorry, I've been non-existent in my Blog postings lately due to some craziness in the Real Estate Market. My property listings have been flying off the market with multiple offers once again. I have heard of a few properties getting 20-30+ offers and selling for $100,000+ over the asking price. Just a few months ago the market was seemingly headed to a balanced market and the selling frenzy in once again upon us. If you're selling your home this year, I would seriously consider getting it on the market NOW! That said, it's still very important not to over price your home, even in a hot market.

On the Buyer's side of the market it's not a pretty picture...For one client I've been involved in six offers for properties in the last four weeks and final got them into contract on the property they liked best. Offers over asking price and zero Contingencies are becoming a norm in this market. This is a HUGE problem for the buyer's as they have NO WAY to back out of the contract after an offer is accepted. As a buyer you really need an experienced Realtor that can expose most if not all issues prior to that offer acceptance date. Another suggestion in this type of market is to arrange a meeting with the seller's and their agent to review the disclosures, ask many questions, and get that feeling of comfort with your offer price.

Feel free to contact me for any real estate related questions...

Mark Thomason 408.850.3085