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Updated over 4 years ago on . Most recent reply

Luis Perez's profile image
Luis Perez's profile image
Luis Perez
  • Real Estate Agent
  • from Downey, California
  • Member since Aug 8, 2017
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Luis Perez's profile image
Luis Perez's profile image
Luis Perez
  • Real Estate Agent
  • from Downey, California
  • Member since Aug 8, 2017
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Luis Perez
  • Real Estate Agent
  • Downey, CA
4
Votes |
3
Posts
Marketing Your Property

Buyer frenzy during pandemic

Luis Perez
  • Real Estate Agent
  • Downey, CA
Posted

I've been noticing buyers are willing to pay close to retail value for distressed properties just to lock in the historic low interest rate. Just today, a property that would have been sold to investor at $160k - $180k is pending at $259k (I'm in CA). The ARV in the area is $300k fixed up and brand new.

I was wondering if anyone else noticed this in their market? And have you found it harder locking in good off market deals during this sellers market?

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Darius Ogloza's profile image
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Darius Ogloza
  • Investor
  • from Marin County California
  • Member since Jul 20, 2018
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Darius Ogloza's profile image
Darius Ogloza's profile image
Darius Ogloza
  • Investor
  • from Marin County California
  • Member since Jul 20, 2018
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Darius Ogloza
  • Investor
  • Marin County California
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Darius Ogloza
  • Investor
  • Marin County California
Replied

Certainly is the case up in Marin County right now.  A fixer just crossed by radar asking more than $1,200 per square foot.  

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