And, this has hurt a lot of my 'regular' buyers. Those ones that want to live in a home. They want to buy their first home with these low rates and low home prices.
This group of home buyers have been getting beat out over and over again by all cash buyers. Investors buying at Auction. People that have huge chunks of cash to put down.
And, some are very frustrated at losing yet another home in a multiple offer situation.
Many are concerned that with the rising home prices, they won't ever be able to buy. And, that, my friend, is the caveat in this market. Getting squeezed out of the market, or holding tight until the investors get squeezed out?
As prices continue to rise, investors have continued to back-off. As less and less distressed properties come on the market, there is less ROI for those same investors. They question the value of an investment when the profit margin is dwindling......
So, hang tight buyers, there will be some room for you.
The investors will continue to dwindle and you will have a better chance, less of a fight.
And, interest rates just dropped a smidgen too!