Thursday, February 24, 2005

Loan agents doubling as realtors??!!

Several times this year, I've received offers from loan agents representing buyers as "selling agent" in transactions. What do you think about loan agents representing buyers in their real estate transactions and also earning fees from their loan financing?

2-4 Unit listings are HOT items in our market right now!

The market is crazy for 2-4 units right now. I'm frustrated because my investor clients offer full price or more, and it's not high enough over the asking price. I keep getting overbid by others. It's almost like an eBay auction. Several times I make an offer at price or above and I'll get a counter-offer back fromt the listing agent that reads: "we have multiple offers, so make your best and final offer" This has happened several times over the last few months. It used to be we couldn't sell units very easily, but in todays market there are very few listings and it seems everyone and their brother wants to own investment properties.

Will Fresno Home Prices Continue Rising?

According to California Association of Realtors (CAR), our home prices will increase at an estimated 15% in 2005. The last couple of years, the prices have gone up approx 25% each year. What do you think? How long can this go on?