Last week I said that more than half of the offers I write or receive on Salt Lake City homes are multiple offers situations since President’s day 2011. The multiple offers are coming in on homes that are the best values on the market.
Short sales frequently attract mulitple offers, but it’s not the same. Buyer’s typically wait and wait and wait for these homes and most of the time, get tired of waiting, lose to someone else or the home goes into foreclosure before the short sale is complete.
The mulitple offer homes I’ve seen have not been short sales. They have been either foreclosed homes priced below market value or regular sales (non-distressed homes) that are a good value or one of a kind.
Then there are the rest of the Salt Lake City homes for sale that are over priced and sitting on the market getting no offers at all. That’s the majority of Salt Lake homes right now.
Salt Lake City Homes that are priced right and show well will usually be the first to sell and some of those homes are attracting mulitple offers right now.Kevin Coyle REALTOR Principal Broker MBA SLC Homes Cel: (801) 243-0699 Kevin@SLCHomeBuyer.com “Specializing in SLC Home Buyer representation”