Hi Everyone,Just to give you an update on South Florida Real Estate REO listings. On every deal that my clients have submitted for REO properties, we have had at least three or more offers on every deal. It has become a bidding war again, and every listing has sold above asking. price. Properties are moving!!!!
George, I would agree that if the property has been listed on the market for more than 90 days then it's overpriced. However, in my opinion, if a property has multiple offers on the first day then it was under priced. My clients won't accept any offer on the first few days no matter what the price is. They do like quick sales but multiple offers on day one is a red flag at least in my area. Either way congratulations. We all like when we can list a property and sell it before any of the tasks kick in.
Hi There.. I've just had 2 of my REO listings go the 1st day on the market in West Palm Beach, multiple cash "as is" offers, at least 10-15% above List.. The good news is.. They were listed right and the AM's and Bank were right on the money. There are lots of overpriced REO Listings out there..anything on the market more than 90 days is Overpriced!!! the Market is ahead of the Appraisers again.. it's still falling..
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