Bidding Wars of Real Estate

Trends of the real estate market have shifted from “seller’s market” to a “buyer’s market” and with those shifts have come dramatic change in pricing. When foreclosures anchored the prices of homes at lowered prices, buyers began to view overall value of the average house to be lower. With that mindset, buyers are low-balling offers and the offers are coming in at a higher frequency.

Inventory of homes are all an all time six-year slump. Low supply mixed with a heightened demand due to employment rates rising means buyers feel overly confident and eager when they enter the market.

Existing-home sales and pending home sales are up more than 8 percent compared to a year earlier, the National Association of REALTORS® recently reported. Trulia Inc. also reported that falling home values and low mortgage rates have made home buying a better deal than renting in 98 of the 100 largest metro areas.”

Source: “Bidding Wars Erupt as Supply of Available Homes Shrink,” Bloomberg News (March 31, 2012)

Read More

February Existing-Home Sales Slip But Up Strongly From a Year Ago

Buying Is Cheaper Than Renting in Nearly All Major Cities

 

Hart Real Estate Solutions

www.hart.realtor

406.585.0000

Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 2 commentsHart Real Estate Solutions • April 06 2012 08:13AM

Comments

Tim, my friend in Boston is buying a condo.  Everything she makes offers on goes into a "Bidding War".  She finally got under contract this week.

Posted by Fred Griffin, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) over 6 years ago

Finally got one under contract - good news.   Tim

Posted by Hart Real Estate Solutions, Broker/Owner (Hart Real Estate Solutions) over 6 years ago

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