Traditional sales are taking the San Benito County just LISTED lead followed by 35% being short sales for the third week of May 2011. The investor and first time homebuyer zone still remains hot under the list price of $400,000, just like last weeks Weekly Market Watch. Sellers are reducing to hit that price point and attract buyers because about 90% of the homes SOLD are under $400,000. If you are ready to sell, see where you can fall in your market’s hot zone! A qualified agent, like myself, can help you find your hot zone!
On another note, I have received questions regarding price increases, and it may be due to lenders short sale approval. Lenders hire appraiser and experienced agents to do a market analysis to make sure the home is being sold at fair market value, so they listing agent may increase the list price due to lender’s response in hope of an offer.