Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'd put it a bit differently but I agree: The smaller the inventory gets the crazier the market gets.
One of these days I'll see a house sold with a negative DOM!
I've recently had two houses go on the MLS with 0 DOM (which is the lowest the computer will allow) because I put Coming Soon signs on them while the sellers were getting the houses ready to on the market and we had pre-market feeding frenzies on both of them (yes, our market really IS that hot right now) and the houses were under contract before they could go on the MLS.
Any well written offer has escape clauses... to think a piece of paper from a lender makes a buyer qualified is naive.
My offers only have one contingency... subject to inspection... that's it.
Once we have a deal, we have a deal... it's too bad sellers can't be pre-qualified... since I have had several instances with sellers wasting everyone's time.
I've bought 5 investment properties through one broker over 25 years... she is the area expert and still farms where I have my income properties... just a word from her was enough to stop all the nonsense.
Maybe the key is to establish long term relationships with top area brokers in the community?
Thanks everyone for your responses. I have read them all carefully and there are some good points and things to consider. Most important, my anxiety has been decreased a bit, at least a little.
It really is the Wild West out here sometimes...
In my book, negative DOM means the sale was pre-arranged between buyer and seller both using the same Realtor. In other words it never made it to the MLS listing.
I've heard of houses being listed on MLS for just one day for some technical reason, where the sale was already arranged and the MLS was just a formality. Maybe that was for the lender.
Maybe the key is to establish long term relationships with top area brokers in the community?
If nothing else, at least one of them, one you can count on.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Scraping
