Why Don't Sellers Want to Accept Your Contingent on Sale Offer?Posted by Judy Orr on
We are in the worst market I have experienced since I started in the business in 1983. My welcome to real estate was interest rates that shot up to 18% and even higher. There was a lot of creative financing out there, and homes were still being purchased. The good news is that those high rates didn't last very long, and the market got back to normal much quicker than what we are experiencing today.
There are way too many homes up for sale than buyers that can qualify for a mortgage. The lower-priced homes are in competition with a slew of foreclosures and short sales so it's very hard to compete. If those sellers cannot sell their Scottsdale homes then they can't move up to the next home. It is a vicious circle, where you have to be priced really well…
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