If you’re thinking about moving, be advised the local real estate market is in an abnormal state right now.
These days, selling your current home while buying a new one is an intense roller coaster ride not for the faint of heart. What you’ve heard about it being a seller’s market is accurate. My wife and I had to frequently leave the house so 30 different potential buyers could look at it. We got two offers and we have a buyer.
Then the struggle began.
Walking through a whopping 26 different prospective homes for sale, then suffering the crushing defeat of getting outbid on five formal purchase offers, is way beyond the pale. But in this chaotic market, it’s what you can expect.
Scott Geller, a Jamison-based RE/MAX Realtor and past president of the Bucks County Realtors Association, estimated that for each house on the market, there are three or four interested buyers. Buyer bidding wars are going on for any worthwhile property. Winning bidders make…