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July 16th, 2012 9:30 AM by David W. Welch
I spoke with an agent yesterday about one of her listngs I was trying to show. I guess I just got lucky to even get through to her. The house in question looked pretty nice, and appeared to be a good deal for the neighborhood. It was a tenant occupied short sale, so I expected it to be difficult to show. She told me she had already received more than 130 phone calls from agents wanting to show the house, and was starting to lose her voice from speaking with so many people. Many more had also emailed her, and she was trying to respond to them as well.
The home is pending now, after just a couple of days on the MLS. Nobody apparently made it into the house. The first day on the market, she received seven offers. By the way all the offers were cash, and I think she even said they were all over the asking price. Our inventory of homes is continuing to shrink, and prices are climbing. Foreclosures may be coming, but at this point if 5,000 hit the market next month I am convinced they would be absorbed as quickly as the banks could sign contracts. Every house that is in decent condition and priced correctly is selling in days with multiple offers. I have three buyer offers out right now on houses with mutiple offers. I just pended one of my listings this weekend that had multiple offers, and it is a $250,000 house. It is not just the $50,000 REO's getting attention. So much for all the talking heads predicting Orlando prices to decline this year.
David Welch Real Estate Optimist, Orlando Real Estate, Search for Homes