Anna Child Group
We are still experiencing aggressive multiple offers on homes below $900K here in Huntington Beach and most of Orange County. While this is great for sellers, it does leave a lot of buyers frustrated. Most buyers have submitted more offers than they want to admit and getting beat. You have to be an extremely strong buyer to have your offer excepted in this market. Unfortunately, FHA and VA borrowers are having the hardest time with only having 0-3% for a down payment and unable to pay the difference between what a home appraises for and the asking price. Sellers know they can get what they are asking for, but appraisals haven’t caught up with the market value. A strong buyer can put 10-30% down. We have been seeing a big increase in all cash buyers, blowing out their competition.