COVID HAS ONLY INCREASED MARKET PRICESS!!!

[Anne Williams]

Greetings BP Family,

I remember when the Corona Pandemic first began, there was so much talk about all the opportunities to come, the lowering of housing prices, the sea of foreclosures to come ect....Quite Contrarily, Ive noticed that it has only made things worst and more competitive for buyers, once again giving the power to the seller.

Some observations:

Prices have gone up- I saw a house that was listed two months ago in probably a F class neighborhood relisted for 25,000 more this week

There was already low inventory, so now that there are even less homes for purchase...folks may have to fight over the few available

Auctions are suspended so this is one less route to explore. Plus that means again less houses to put on the market because now investors can't go to bid on properties to fix and flip.

I pray this doesn't carry on too much longer. I am looking in North New Jersey. Is anyone else experiencing any of this?