Strong competition for homes in Katy
My Buyers looking for homes in the Katy, West Houston and Cypress area have been disappointed several times. Numerous offers and offers above the original asking price have become common place. Couple that with less than expected homes released to the public as foreclosures ( we are still awaiting the deluge that is suppose to be coming); delays in getting responses from the banks/investors, shrinking inventory, and you have disappointed buyers.
The good news is--we are seeing more buyers coming into the market. The low appraisal issue is getting some attention and low prices are giving us a much needed push. The old formula--location, location, location still holds true but is coupled with property condition, terms and price makes for sales, sales, sales.
I'll see you in the market place.