Real Estate Updates

Out of the mouth of Gregg Alexander, "The local real estate market is going crazy; a frenzy of buying activity that is driving up demand & prices unlike we have seen in the last 5-6 years. There is a big shortage of available homes for sale and the result is 10-15-20 plus offers on most new listings within the first week they are available for sale. One of my recent listings (4 bedrooms, 2 baths, 1650 square feet in Temecula), I had 3 offers before anyone had seen the inside (due to some advance marketing we did) and 10 offers within 3 days. 90% of the offers were higher than the last comparable sale & it is in escrow at a price exceeding the list price. I have another property (that is still being worked on & is not even listed) that has a very high offer on it already. Since only one offer is accepted, we have many highly qualified buyers who want to buy."

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