Home Bidding Wars are Back?
April 2nd, 2009
Current events and local news coverage has not been presenting a very rosy picture out there for the housing market. Economic news is overwhelmed with negative results.
So, Why am I dealing with multiple offers?
- A Hopkinton foreclosure home currently has fifteen, yes 15, offers on it! My Buyer had to offer over asking price just to have a chance at it!
- My Milford estate sale listing is Under Agreement with only 17 days on market.
- A listing I have on Fisher Street in Medway had 3 offers on it and is awaiting Bank Approval on the “short sale”.
Here is an April 1st article about some national experiences like this:
CNBC Article Bidding Wars Over a House?
As some additional perspective on the resale housing market nationally:
1970’s decade sold an average of 3 million homes 1980’s decade sold an average of 3.3 million homes 1990’s decade sold an average of 3.9 million homes 2000’s sold an average of 5.6 million homes so farMortgage Bankers Assoc forecast for 2009 is 5.11 million sales
National Assoc. of Realtors forecast for 2009 is 5.5 million sales
Just to be clear, the MAhome Team is just looking to reach a goal of 48 sales for the year to be very happy with our business plan! Any referrals will be provided great service and very much appreciated! Call Ed or Doriane at 508-341-7880 for this service.
Categories: Market Conditions, Real Estate
This entry was posted on Thursday, April 2nd, 2009 at 10:07 am and is filed under Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
