Updated over 5 years ago on . Most recent reply
Buyer frenzy during pandemic
I've been noticing buyers are willing to pay close to retail value for distressed properties just to lock in the historic low interest rate. Just today, a property that would have been sold to investor at $160k - $180k is pending at $259k (I'm in CA). The ARV in the area is $300k fixed up and brand new.
I was wondering if anyone else noticed this in their market? And have you found it harder locking in good off market deals during this sellers market?
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Certainly is the case up in Marin County right now. A fixer just crossed by radar asking more than $1,200 per square foot.