I thought the market was crazy last week when I told buyers to up the ante on their offers. During our weekly office meeting this week, one agent wrote an offer on a property in Elk Grove listed for $140K. The listing agent told her she had 89 offers on the home. Holy offers, Batman!
I thought competing with 20-30+ offers was bad, but with 89 offers, buyers don't have a chance. I've tried to keep a positive attitude with my buyers with the mantra that, "somebody has to get the house, why not you!" That means there are still 88 buyers at that price point who still don't have a house. Bummer.
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