As discussed here and in the media...there is a shift going on in the marketplace.
It's almost tangible. More listings are popping up in most neighborhoods and multiple offers aren't happening as frequently.
The language listing agents are using of late is important to note...
3 months ago...this would have been typical in the brokers notes in the MLS:
"Offer(s) if any, to be reviewed March 25th @ 8pm, register by 6pm."
There was a decent chance that a "bully offer" may have sparked an earlier offer date.
Today...this is more common language in the MLS:(I've come across it countless times in the last few days in many ranges and areas I represent buyers).
"Please provide 48 hr irrevocable on all offers per vendors"
This is often a less aggressive/less confident way of trying to collect offers. Here, the sellers are hoping that if their agent collects an offer and the house is priced to market, that they buy time to connect with all other agents who showed the property and voila....we're back in "multiple offers" (if all works out for the sellers). The only thing that changed is the "softer tone".
The good news is, there are fewer multiple offers and with more supply to hit, rates increasing and many arguing that the bubble is bursting---the market is infact looking like a brighter place for buyers to be!
http://www.TheSmithsBuyAHouse.com
http://www.PropertiesintheGTA.ca
No comments:
Post a Comment