Multiple offers: the new norm 
Competition returns to slumping markets
By Inman News, Monday, August 17, 2009.
Up-market homes consistently sell above asking in a New Jersey suburb. Bidding wars break out in hot neighborhoods in Cape Cod, Chicago and Seattle. Short sales in some Florida and California markets draw as many as 40 bids.
It's a far cry from 2006, but brokers and agents across the country say multiple offers are once again the norm in specific corners of the market.
"The banks are purposely putting them on the market under value and creating a frenzy," says Kristi Townsend ...
more...
Premium Member account.
Premium Members have full access to all news archives & premium content.
Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
