Summer is here, people are moving some selling, others buying and or renting. Sales have been brisk for a very good reason. We currently have about two months supply of homes on the market here in the Valley of the Sun. What that means to home buyers is inventory is getting low, promoting multiple offers on the same home. It is no longer months and months on the market, now they are getting offers in less than one month, I've had some transactions recently that literally sold with in days.

When buying a bank owned property it is an asset to them, no emotions and you can afford to be aggressive. When its a private seller, emotions can come into play. Would I treat them differently? Perhaps. It would depend on many factors like what is the sales price? 250K and under is where most of the sales happen in the valley, meaning you have more competition for the same home. Higher priced homes above 300K are still moving, but you have a little more time with out a competitor to get a lower price on the home.

The bottom line is be prepared and be patient, have your loan pre approved so you can get the property you want. if you are in the 250K and under buyer be patient and don't get frustrated if you miss a few homes, eventually the right one will come together for you. I've sold more homes to home buyers for less money because their financing was more solid that other competing higher offers.