Pent up Buyer Demand?
Now that we all know how much we hate short sales, I thought I would drop in my two cents with regards to what I’m hearing from other Realtors I talk to. (Yes, I do have a short sale listing. And yes, it’s getting a lot of attention from everyone but the bank.)
But from what other Realtors tell me, there are multiple offers on almost all well-priced bank owned homes. There are also multiple offers on short sales, especially if they are approved short sales.
What does this point to? I may venture a guess to say pent up buyer demand. I recently wrote an article on my other blog Sacramento Real Estate Gal about how the real investors are beginning to jump into the Sacramento real estate market. Historically, the investors jump first followed by the first-time homebuyers and then the rest.
So if you’re making an offer on an REO and your Realtor tells you there are multiple offers on the property already, don’t assume she’s lying just because you’re full of bad housing news. The good news is coming.
