Sunday, April 27, 2008

Challenging Time.

According to my own schedules and my marketing activities - I also have a challenging Real Estate market.

I had several showing appointments and I took my clients out to show several bank owned properties in Hemet and Murrieta in these last several weeks.

The problems were that most listings were either already have offers and or pending without the listings being updated to show the current status.
I tried to call most agents before I showed the homes. Some listing agents never answered their phone calls. Some of the agents are out of town agents and they never RETURN the phone calls.

I showed several homes that were attractively priced and great properties for new home buyers. The buyers were ready to put in the offer but we found out that the bank already had several offers in their pockets and they are waiting for the highest or the higher offer before they are making up their minds.

My buyers are first time home owners and they are very conservative and they want to make a 'LOWER' than the asking prices. Most of the agents told me not to waste my time or efforts.

The scenerio was not the same as when I showed several homes in Moreno Valley to my other buyers about three months ago. Most of the homes that were REO were not in good condition and most of the listing agents told me to submit the offer with, anywhere from $25,000 to $50,000 lower than the asking prices.

Unfortunately my buyers already own two homes and those homes are my listings.
I am trying and have been for over 6 months to sell one of these homes.
Alas there were not many interests since they are priced higher than the market will bear.

Challenging time indeed.

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