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Ralph Bunche : Real Estate Advice

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Fri Jul 24, 2009
Lisa Cartolano Ellen Diamond answered:
Jennifer,

Hello. What you are experiencing is not totally uncommon, especially in the last few months. In June existing home sales were up 3.6%, the third consective month of increase. With home prices lower, a decrease in the inventory of homes on the market and with FHA financing as well as the tax credit for first time home buyers, there is a lot more competition for properties.

In addition, keep in mind, that often times the stradegy of used by agents listing short sales is to price the property under market value to enourage buyers to write offers. Short sale cannot be negoatiated with the banks until there is an offer in hand.

Hope this helps!
Lisa Cartolano
Alain Pinel Realtors
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