The market is crazy hot where we live
I have lost out on multiple properties in the past few weeks. We are on a 1031 time crunch so we need to lock a sale before the deadline. We thought that the cash offer had some clout. Well, the properties within the city in hot neighborhoods are moving the first week it hits the market with mulitple offers. We have lost out on a few properties by not offering full price plus an escalation clause.
This is in the city limits of the hottest areas only. As soon as you go to the suburbs, it is filled with short sales and foreclosures. The properties are just sitting even in the nicer suburbs.
Young people seem to want to live in the city these days.
Anyone seeing the same in your town?