It could just be a good week, but it sure feels like the market might be picking up in this area. Some of Jeremy’s clients looked at a couple of houses over the weekend and put in a competitive offer on one that already had two offers in. This particular house had been on the market for almost a year and had a price drop last week of $25,000, which made it a short sale. It’s now under contract, and unfortunately, not for Jeremy’s clients.
This morning, Jeremy called to schedule a realtor preview for a home that was just listed yesterday – and it’s already under contract!
Just goes to show you that even in “this” market, if you price your home right, you can still sell, and sell quickly. Unfortunately, many homeowners are upside down on their mortgages, and the right price often means a short sale.
By the way, a short sale doesn’t mean a quick offer or fast closing – it’s when the home is being sold for less than what is owed. It’s “short” because the bank is getting shorted on what they’re owed. It is typically a longer process than a normal sale.