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There are deals being made on Real Estate, is it time to be sitting on the fence?

November 16, 2009

Analize the real deal

Working closely with Realtors and helping to strategize, I get to see how they are putting their transactions together, while I put the mortgage together.
I know around here in the Eugene and Springfield Area, a home valued around $165,000 in good condition, a good listing agent puts a home on the market at a ridiculously low price to attract many buyers and their offers.  Lets say 9 put offers in, some coming in lower (not a good move) and what I see from my brilliant Selling Agents is they analyze the market and make a real offer at or just above market value to get their first time buyers offer accepted. But this is where they are ending up  in the $168-175K price range and the homes are in good condition. Anything above that is not really seeing multiple offers unless it is a really good “deal”. Also the people sitting on the fence are looking in the $190-320K range and plenty inventory, I wonder what they are really looking for a 500K home selling for 220K? -Really I wonder. 🙂 I think there is this rumor that a ton of foreclosures are just waiting to explode on the market. Yes there are a lot sitting there but no, they will not hit all at the same time. – I will tell that story another day. But a hint they are still an asset to some, just they way they are, right now…

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