• Are Sellers Seeking Buyers or are Buyers Seeking Sellers?

        Okay so has anyone else been running into fierce multiple offer situation with clients? I know I have with a few of my clients most recently and it’s hard to get buyers sometimes on the same page. Yes, it is a buyers market over all, but it all depends where you are looking and in what price range. I have especially found in the under $350,000 range, buyers are stepping into multiple offer situations with almost every seller.

        In fact, RIS Media reported on October 3rd that pending home sales nationwide have continued to rise 6.4% in August 2009 alone which is up 12.4% from August 2008. In the Northeast, the Pending Home Sales Index reported a 8.2% jump in August 2009 which was up 12.0% a year prior, while the West indicates a 16.0% increase in August 2009 and up 22.3% since August 2008.

        So what’s going on here? With the first time home buyers tax credit expiring in less than 45 days, home selles have continued to serge to beat the deadline. So far, Congress has not extended the tax credit, however many experts forecast that home sales will greatly decline following the end of the tax credit on Nov. 30th. On average, the number of active listings drops in the winter months and the market tends to slow, so if you are looking to buy or sell, now is the time to do it!

        To read the full article from RIS Media, click here.