Relocating to Utah? Be prepared for multiple offers. No longer is it a buyers market. I really believe the buyers market went away a couple months ago. Every home my various buyers are serious about goes under contract fast and often with multiple offers. If the banks are holding back shadow inventory, now might be a good time to slowly start releasing their inventory.
Its amazing how we went from no offers and homes sitting for sale for a year to the same home over the past month now having multiple offers on it. Sellers, please don’t get greedy on what you request the buyers to do in order to purchase your home. I recently showed a home that my buyer liked until we read the request sent to me by the agent stating the home owners requests… (short sale scenario by the way) home owner is taking absolutely all the light fixtures, plumbing fixtures, appliances etc… but hey we can put together a separate bid for those items if we want outside of the transaction and that will determine whose offer goes to the bank………..hmmmm interesting… oh ya, we were suppose to pay their attorney fees for their recent divorce too? Not sure how this will pass FHA inspections and underwritter guidelines…
I recently spoke to a buyer who I just met and they were bragging how they over bid the property by 20,000 dollars. Their goal was to secure the bid and when it doesn’t appraise, they would deal with it then.
Anyways, Sellers stay focused and buyers be prepared. Its still a great time to buy a home in Salt Lake County but you need to be working with a lender/loan officer first. Get your financial ducks in a row, then I can help you with your home search and the contractual part of your home buying experience.
Spring has sprung and the tide has turned….. Good luck to all…..