Is Daylight Savings time bringing out the buyers?

filed under: Buyers, Market updates posted on March 10th, 2008

I just got off a phone call with fellow Realtor Donna Nordby of Diversified Lending and Real Estate.  We were comparing notes about our busy weeks when she told me that she showed 22 homes in the $300,000 to $350,000 range last week to some clients.  Most if not all were REO (bank-owned) properties that had been through foreclosure.  Fully FIFTY percent of them had already received anywhere from 10 to 15 OFFERS each.  She literally put the listing agents’ office on speaker phone so that her clients could hear the news with her as they called one property after another and got the same news.  The nice properties in nice locations were the ones with multiple offers.  The rougher ones in less desirable locations comprised the fifty percent without offers.     At one property (not her listing), she had opened it up to show clients and three potential buyers walked in the door and asked her if they could see it.

Meanwhile I had a full house yesterday with a record amount of traffic at the country property I was hosting.  Had some great talks with a steady stream of buyers and the consensus was that now was the time to buy.  Late last year the thinking was more a wait and see attitude.

 I have a feeling we are going to have a warm and lively spring.

posted by Pam Buda // Comments Off on Is Daylight Savings time bringing out the buyers?