Current Boston Market

[John T.]

Admittedly, we are new to real estate in general. With that being said, we've been working with an agent looking for MF's for the last few weeks. Every liveable MF that comes up only lasts that day or that open house weekend. Every. Single. One. We've put offers in that are over asking, but we are easily turned down. When I look at the ARV from last year sales for comparable MF's and they are $100K less. $100K!??

It seems a lot of foreign investors/cash buyers are making the purchases. Is this normal? If so, this is a complete demoralizer for "normal" folks who are actually trying to purchase an MF to live in. There is no way to compete. 

Has anyone else noticed this trend lately?

[Mike Hurney]

@John T. Yes, it's called a hot Sellers market.