There was a discussion earlier about how the lenders have been using this strategy of listing low hoping to start a bidding war. There is a house I have been following in Murrieta that listed $100,000 below market and went quickly into escrow after receiving multiple offers. Yesterday it fell out of escrow for the third time and once again was active at the original low listing price. So today I called there bluff and made a full price cash offer, hoping that they are tired of people not qualifying for loans and having to start the process again. Gee, I hope I didn’t offend them with my full price offer.
