Multiple Offers, in this Market

That would be a yes, the buyers and Investors, that have been on the fence waiting to buy, have all come out to buy at the same time. Reason being, interest rates are lower then every and prices are lower then every. Stimulus package help $8,000 , for the first time home buyer, also brings more buyers.

Lots of savvy home buyers want to hit the jackpot and buy that REO foreclosed home, many of which are often under-priced. When banks price REOs under the comparable sales, multiple offers are often the response. This means you could be up against stiff competition for that bank-owned home.

It's not unusual for REO homes in Tri Valley, San Joaquin, Stanislaus counties, to receive 15 or 20 offers. Sometimes the bank will throw out all but two offers and then ask the selected buyers to resubmit what is called "Highest and Final" offer. Sometimes the bank simply accepts the best offer at inception.

So if your thinking of buying, be ready for multiple offers, Choose a Real Estate agent, that has experience with multiple offers. Make sure you look at all previous home sales, in the the past month, this will give you an idea of what homes are selling for, above asking price.

Buying a REO or banked owned , Short Sale, Foreclosure, is a great Investment. If you have ever said, I wish I could get all Bank owned Deals sent to me, well now you can. You will receive fully Automated search sent to your e mail inbox, containing your Custom Search Criteria.  There could not be a better time to take advantage of all these great deals. Please Click Here on Alert system.

Are system will send you properties, 24 Hrs a day,  Once you receive your search and you find a property that your are interested in, and you would like information on, please contact us, or if there is a property that you would like see please let us know.

If you are thinking about looking at homes, You should be pre-approved by a loan professional mortgage lender.

Or Call us, and we can get you Pre-Approved.  By understanding what you can afford, you will not spend time looking for homes that are out of your price range.