Updated almost 6 years ago on . Most recent reply
Wholesalers are getting silly
As an agent I have MLS access and follow a handful of saved searches daily. Since coronavirus I have seen very very little go under contract, and the only ones closing are those that went under before the virus. Many of those deals have also fallen out of contract.
What I haven't seen too much of yet are price drops on the MLS - just a few. More sellers are opting to pull the listing from active status than drop the price.
However WHOLESALERS are starting to drop prices pretty dramatically. Not enough yet for me to jump off the fence. But what gets me is that they continue to advertise ARV in their marketing! What ARV? When I see that they automatically lose credibility in my eyes. How do they know a property's ARV in this current market? How does anyone?
Ultimately I get that they are trying to do whatever they can to keep some income coming in.