Inventory is making the market very difficult. I been looking for the last few months and after a busy summer season what appears to be left is the “cream of the crap”. People who are un-motivated, unrealistic, or some other glaring red flag. Take for instance my most recent encounter. We placed an offer on a condo we felt would cash flow with the plan of living in it for 4-5 years initially. The property had been on the market for roughly 50 plus days. After making a strong offer (comparable to comps that had been sold in last month which were highly upgraded in comparison) we received a “multiple counter”. According to the listing agent the seller received an additional offer at “close to full price” with in 6 hours of ours, after the property had sat on the market for over 50 days. I called bullshit, since why would anyone if they received a “close to full price” offer turn around and counter both parties at full price, especially when the property is overpriced? If I am the seller the logical choice is to go with the much higher offer right?
