If someone said that to one of my clients, they probably would laugh in their face. My clients just lost out on a listing in Evergreen (San Jose) that had a total of 28 offers. The property was a 3 bedroom, 2 bath home with approximately 1450 square feet and a pool that took up nearly the whole backyard. It was attractively priced at $450,000. I was told just this morning that it was sold for more than $100,000 over the listing price.
We are beginning to hear similar stories of multiple offers on REO’s ( Bank owned properties) in Sacramento, Modesto, Tracy, Los Angeles and even in other states like Arizona. Perhaps this is a sign of better times and greater confidence in the housing market.
Personally I think these buyers are making some great deals.
