Скачать или смотреть Is the Market Out of Control? | Orange County Housing Report

Clients and Friends,

Do you feel like this housing market is out of control? It likely depends which side of the market you are on, buyer or seller. Many buyers have found themselves in the situation where they are overextending themselves above the asking price of a home in order to present an attractive offer, only to not hear back from the sellers at all. Even worse, they see the property status has changed to pending, meaning they've accepted another offer. What is happening here? To buyers, this market feels out of control. To sellers, this is the absolute best experience they could ask for when selling a property. There are 2 different dynamics going on. There is an emerging trend we are seeing where listing agents are setting a home's price at slightly under market value in order to garner multiple offers and create overbidding, making it extremely hard on buyers. This technique has existed for decades where inventory is scarce, such as in the Bay Area. As long as we're dealing with scarce inventory, this trend is here to stay. This market can be confusing to navigate, please reach out to me if you have any questions or need assistance. Signing off!

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Doug Echelberger DRE 01176379
Pacific Sotheby's International Realty
#RealEstate #OrangeCounty #HousingMarket #HousingReport #MarketReport

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