Slim inventory causes multi offers on properties, and buyers are bidding up!!
Well we right now we have what I am calling the perfect storm. Interest rates are still at an all-time low, prices on homes are again low (it is cheaper to buy than to rent a home right now) and on top of all of that banks are offering assistance with closing cost. How can you go wrong? Folks that have been holding on for dear life to their home, they are now in a position to sell and finally not have to compete with short sales or foreclosed property. Yes, they are still here—but 58% of all homes sold in the past 3 months have been regular sales…Music to our ears!! With the Debt forgiveness act ready to expire at the end of the year—if you think you need to sell for less than you owe, now could be a GREAT time to do so. This act allows you to sell your property for less than owed, and the difference is not taxable. Will they extend this act? Hard to say but I do know if they don’t you will be liable to the tax o...
