The New Bidding Wars
Wednesday, July 8, 2009 | Comments Off
Here in Silicon Valley we are in the middle of the most amazing 1st time Buyer market i’ve seen in my 20 plus years working here.
We have an much higher than normal number of Short Sales and REO properties. While for numerous reasons short sales are just sitting out there, the REO properties are flying off the market as quick as they arrive, and in most cases with multiple offers.
For a great summary on this topic check out Scott Schang’s blog at http://www.californiateachersandemployeeshomeloanprograms.com/buying-homes-in-a-bidding-war-understanding-competitive-markets/