Quick Synopsis of Current Real Estate Market

There is a ton of information available currently in the media on the current Real Estate market. The bottom line is that this listing I have highlights the market, at least in Los Angeles, pretty clearly. There are buyer's out there looking to buy, as well as investors looking, but they want a DEAL.

I have a short sale in a great area in Brentwood, that because the buyer's cancelled five days before the closing, I just re-listed as "active" on the MLS late Friday afternoon. It is now Monday morning, and my phone has been ringing constantly with agent's clamoring for this condo. I have a list of 12 agents that have called, some talking about sending over all cash offers without even seeing the property. They, and their buyers, recognize that this is a deal. In this, or any market, there is money to be made. There are buyer's out there that do want to buy, but just feel like they can negotiate or wait for an unbelievable deal. In many instances they may be right. This is the reason that properties priced at market value are sometimes difficult to move, and if asking over market value forget it. Price is the number one factor in the market right now, period.