Through The Roof

I swear, for almost all of 2012 I went on and on about how wacky and hot the market was. What the heck did I know! If you bought a home last year and went over the asking price to get it…you probably stole the place! So far the 2013 market makes last years look like 2009. If you’ve been playing in this ballpark you know exactly what I mean. If you haven’t…hold on to your hat. I showed a house on Frank Blodin in Tracy that debuted  at 1:00 PM on Saturday and looked at offers at 2:30 on Monday. In just a bit over 2 days they got 8 offers and the house went $30,000 over asking. I talked to an agent today who wrote an offer on a house on Chestnut in Tracy who came in $20,000 over asking and finished 11th out of 13 offers There’s no standard right now. No rules for this game. I’ve never seen anything like this…and I think I said that last year at this time! One of the scariest things is the number of ALL CASH offers right now. Seems like all the winning bids are cash. It’s amazing. I had an agent tell me she received an offer with 50% down and the buyers agent apologized because they had a loan. Like it’s a shameful thing to not have a cash offer. This is on a house listed for $349,000.

I wish I had an answer for this. Actually I wish I had more listings! Come to think of it…if you’ve been thinking about selling, now’s the time. My phone number is at the top of the page. Seriously. It’s impossible to overstate how much inventory we need right now. We could triple the current level and it wouldn’t mean a thing. There’s that many buyers out there.

 

With Highest Regards,
Bill Barringer
Team Leader
The Barringer Team, Century 21 M&M and Associates 
 #1 Century 21 Company in the WORLD. SMARTER. BOLDER.FASTER.

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