I spent the weekend out in the field looking for Condos for a Montreal investor, what I found really opened my eyes. I looked in several Tampa locations 33619, 33637 and 33647. I communicated with my investor provided pictures and comparables, we settled on two likely prospects with prices of 44.900 the other at 43,500, a great price for a 2/2 and we are offering cash, two months ago this was a no brainier submit the offer and in two weeks go to closing, by the way these are both bank owned. What was the surprise? One property had eight offers and the other nine, after just two and four days on the market. One agent while not giving away the other offers, suggested I bring " in excess of ten percent over asking price" for my initial offer. I write this as a heads up, the investors are out there gobbling up the condos. For Realtors, better times are just around the corner, for Investors, better hurry, things are going to go crazy.
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