Bidding wars catch buyers off guard

By
Real Estate Broker Owner with Welcome Center Realty 772-336-8583, FLA777

In case anyone missed it… here it is!! The plain truth in black and white for all consumers to read. I am here in Florida and can definitely testify to this scenario. Just this past week I had an appointment with a homebuyer who is very frustrated after bidding over 25K above the asking price for an REO only to lose out. … They are back!!    Real Estate, Port St Lucie, Foreclosures, Buying a Home, Mortgages, Loan, Lenders, Florida, Treasure Coast, St Lucie County, Martin County, Palm Beach

 

Strait from Wall Street Journal... http://online.wsj.com/article/SB10001424052702304723304577366294046658820.html#articleTabs%3Darticle

""A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.

From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.

"It's a little surprising because we thought bidding wars were done with," said Andy Aley, who is looking to buy his first home in Seattle's Beacon Hill neighborhood. The 31-year-old attorney was outbid this year when he offered up to $23,000 above the $357,000 listing price and agreed to waive inspections and other closing conditions.

"It's a little surprising because we thought bidding wars were done with," said Andy Aley, who is looking to buy his first home in Seattle's Beacon Hill neighborhood. The 31-year-old attorney was outbid this year when he offered up to $23,000 above the $357,000 listing price and agreed to waive inspections and other closing conditions. ....""

Real Estate, Port St Lucie, Foreclosures, Buying a Home, Mortgages, Loan, Lenders, Florida, Treasure Coast, St Lucie County, Martin County, Palm BeachHowever, this is still a GREAT Time to buy, Better than next year anyway… with the forward trend showing signs on decreasing REO inventory and ample buyers.. prices could very well be on the rise.

Finally with the new homeowner assistance to lower the interest rates of those who have not yet defaulted.. preventing another downfall… the future looks…well.. bright (kinda like the Sunshine State itself)!

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Topic:
Home Buying
Location:
Florida St Lucie County
Groups:
Pet Friendly Real Estate
Treasure Coast Florida
Realtors®
All Things Florida
1st Time Buyers
Tags:
gayle beyer
welcome center realty
freddie mac
fannie mae
treasure coast real estate
st lucie county
foreclosures
port st lucie
real estate

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Rainmaker
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Gayle Beyer

Port St Lucie FL Real Estate Broker
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Additional Information

Port St Lucie, Treasure Coast Florida Real Estate Foreclosures/Homes for Sale. St Lucie County, Martin County, FHA, HUD, Fannie Mae, Freddie Mac, Florida Homes, Estate Sales and More