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The Straight Truth

By Jennifer Beeston @ Guaranteed Rate Mortgage

By Jennifer Beeston | Mortgage Broker
or Lender in California

Buyers? Read this; What is really happening in the Market

In the past 4 months the housing market had turned from warm to boiling hot.  Everybody wants a house RIGHT NOW!!!  It is great to have so many shoppers ready to buy but unfortunately there are simply not enough houses to go around. As a mortgage lender who primarily does purchase loans I work with a lot of buyers and this is what they are experiencing

1) Multiple offers.  Many homes have 10+ offers
2) Houses going for way above list price
3) Appraisals coming in higher then expected (seeing this ALOT on refinances which is great)
4) The days of low offers getting accepted are gone.  Reators are dumping their clients who consistently make low offers because it is a waste of time. 
5) Less sellers paying closing costs (Homepath purchases seem to be the last survivors of that)
6) Houses are going FAST! If you see it and like it you better write an offer right then because otherwise it will be gone


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