In Gilroy there are pleanty of houses for sale - still. BUT, there are a lot of properties going into contract! The other but is that the escrows are taking an extraordinary long time because lenders are scrutinizing new loans and borrowers at an unprecedented degree.There's an odd thing going on, too. Homes owned by banks and other financial institutions are going on the market at really reasonable prices. Once on the market they are receiving multiple offers, and are ultimately going into contract at over list price. We had one buyer offer competing with 22 other offers last week. The winner went in with an over-list-price offer, and raised it even more on counter.
News on the national level includes the National Association of Realtors reporting this week that there have been pending home sale gains in the South and Midwest. The other regions saw slight declines. Here's the complete article.
Back to Gilroy - take a look around. Is there something out there for you? Call Team Patereau to talk about your wants and needs.
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