Brutally honest news from the Palm Beach Post this morning, almost scary for buyers! " Palm Beach County home sales rise, supply falls". We have seen this with buyers over the last few months around the North end of the county and surprisingly enough not only the very low priced homes, but also for the mid priced homes all the way up into the 1/2 million dollar priced listings!
We now have to educate buyers that below asking price offers are just not flying, what? Even at asking price you may not get a deal anymore? I just helped a client purchase a foreclosure that he paid 21k higher than asking price, and that was to beat out 2 other buyers! Was he happy? Yes.. because in today's market the price was still about 60k under market value.
So Caveat Emptor! Buyer Beware... of markets that are getting stronger and prices that are starting to rise!
Mark Loewenberg PA
Keller Williams REALTOR®
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