Well, the phenomenon of Global Warming seems to have hit the U.S. real estate markets as well as the thermometer. I subscribe to a blog that is for REALTORS on Linked In. Someone asked a question saying “We are getting multiple offers in Northern California and would love to hear what your market it doing”. Well, the responses were amazing — here are just a few:
I have a house listed 3 bed/2ba 1,490 sf lot size 5000- just received 12 offers went way over asking- 50 disclosure packages went out. We have no inventory I’m putting in two offers next week for clients and both properties are expecting multiple offers. All these properties are in San Mateo County 20 minutes away from San Francisco located by the SF airport.
It’s the same here in the Oakland/Berkeley area. Low inventory and multiple offers. We need more sellers!
I agree, very little inventory here (Denver Market) and good homes are seeing multiple offers the first day or two on the market
Our market here in Clearwater, St. Petersburg and Tampa has also picked up. I just put in an offer for a client and the lister came back and asked for “highest and best” as there were several offers on a priced right bank owned property. Most likely will sell over list.
In the past 3-4 weeks there has been a huge upswing in multiple offers in Seattle City proper and now the suburbs.
I am in Santa Clara County and just wanted to thank you for the post. The market has been unbelievably hot (we all saw the headlines about the 38 offers on one home!) here as well. I am glad to see other agents sharing the good news also. The media often ignores the good stuff!
I’m in San Diego and our market is the same as what’s described in the previous post “HOT.” Just yesterday at our weekly office meeting we were liking the activity to the 2004 market. Our inventory is shrinking and new listings are being gobbled up. It’s going to be a great 2012.
Are you starting to see a trend here? I sure am. The previous posts I’ve written about shrinking inventory, lack of homes for sale in Manhattan Beach, multiple offer situations becoming more and more common, etc, are true right now all over the country! It is absolutely amazing to us, except that now the problem is finding enough homes to look at for our buyer clients. If you are a homeowner thinking of selling your home in Manhattan Beach, Redondo Beach, or Palos Verdes, please let me know! It is definitely a Seller’s Market for a change.