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Bidding wars off the charts

Source: CNBC

Buyers are increasingly facing fierce bidding wars in their hunt for a home. Even as home prices surge and competition remain tight, house hunters are undeterred.

About 40% of potential buyers who’ve been searching for a home say they haven’t bought a house yet because they keep getting outbid, according to a survey by the National Association of Home Builders. A year ago, the primary reason cited was unaffordable prices.

About 56% percent of Redfin real estate professionals reported facing a bidding war with their buyer offers in January. Bidding wars are occurring the most frequently with properties between $800,000 and $1 million, Redfin reports.

 

About Community Real Estate

Community Real Estate is a Real Estate Company committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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714-835-7126

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