The market is starting to move very quickly. Properties across the board are going under agreement. I am seeing multiple bid situations for properties that have been on the market for over a year – translation – strong market. If you are an active buyer in this market, you need to be careful of paying too much attention to sold comparable properties. These comps. can be used for guidance, but you should not solely base your bid on these sales – if you do, you won’t get to the finish line on the deal and the market will pass you by. Bids should be based not only comps., but also the guidance of a good broker. In this market, bids need to be forward looking. A good broker looks into the future and understands where the market is going. I’ve always said, I am a fortune teller…
