A strange thing has happened in my real estate home tours these past two weeks. I will show homes, the clients will like one or more, I check with the agents, and all of a sudden they are pending. This hasn't happened on just one home, but nearly 10 homes from all over the area in cities such as Carmichael, Fair Oaks, Natomas and Elk Grove. It's like there's been a slight change in the market where homes that are priced competitively and in good condition are selling quickly, which is always the case, but more evident recently.
The Buyer's market mentality has some buyers thinking they have plenty of time to act on a good deal of a home, when in reality, the best ones are still selling quick and many with multiple offers by those buyers who do not hesitate to make an offer on a home.
I previewed a dozen homes today for a client, by the time I got back, one of them was already pending. It's weeks likes these that keep us agents even more aware of how dynamic the market is and how important it is to be one step ahead of the market.
Showing posts with label homes. Show all posts
Showing posts with label homes. Show all posts
Friday, July 6, 2007
Monday, July 2, 2007
The REO Adventure
REO (real estate owned) homes, also known as foreclosures, are an adventure in home showings like no other. When I'm touring or previewing homes that are REO I never know what I'm going to find. Sometimes it's an absolutely beautiful home and other times, well, not so much.
This past week I have toured over 20 REO properties and while I will have to say that agents of these homes are really starting to clean them up, there are still 20% or so that are quite the adventure. When opening the door of an REO, I'm always a little hesitant as to what I will find, what smells I'll encounter and how quickly I will feel the need to take a shower afterward.
For instance, one such property had a dead bird at the back window and ants in the process of having a very nice dinner. Another home, had a pungent unknown smell that made it hard to breathe. While another, had piles and piles of garbage all over the home. I practically ran out of that one. And lastly, another had no windows, flooring or inside walls. While I laughingly joked to my client about finding the lock box, I noticed the sign said "By Appointment Only."
Since the Sacramento area's REO properties are predicted to quadruple by the end of 2007, my adventures will continue...never a dull day in real estate!
This past week I have toured over 20 REO properties and while I will have to say that agents of these homes are really starting to clean them up, there are still 20% or so that are quite the adventure. When opening the door of an REO, I'm always a little hesitant as to what I will find, what smells I'll encounter and how quickly I will feel the need to take a shower afterward.
For instance, one such property had a dead bird at the back window and ants in the process of having a very nice dinner. Another home, had a pungent unknown smell that made it hard to breathe. While another, had piles and piles of garbage all over the home. I practically ran out of that one. And lastly, another had no windows, flooring or inside walls. While I laughingly joked to my client about finding the lock box, I noticed the sign said "By Appointment Only."
Since the Sacramento area's REO properties are predicted to quadruple by the end of 2007, my adventures will continue...never a dull day in real estate!
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