2009 for me as a Real Estate Agent has been a year of Multi multiple offers. I can’t remember a year like that, and I have been in Real Estate for quite some time. Almost every offer I have been involved with in 2009 have involved multiple offers. This means that Buyers are competing against each other for a particular home. In each case the homes were sold for between 30,000 to 200,000 dollars more than the listing price.
2010 the inventory of homes for sale in Vaughan has come down drastically. Its seemed to me that buyers have been hesitant. With lower than usual interest rates. This is fascinating to me that buyers choose to be hesitant. When things were booming it seem buyers jump on the bandwagon, and get involved with multiple offers. In 2010 when there is a lower inventory they seem to think price are going to drop drastically. Well we’re nearing the end of 2010 and no such thing has happened. Interest rate are fantastic. As much as you try and tell people that they shouldn’t wait for bad economic news and for Interest rates to go up, and we all know that they will go up. They seem to feel comfort in following the crowd.
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