Multiple offers

General Real Estate Investing
1

I just thought this was interesting.

Just as the TV is telling us that real estate is a real disaster and we’re all gunna die…

I just got off the phone with a prospective tenant who is looking for a house that she can rent now and buy later. I suggested that she look on Craigslist for lease options.

Her comments were that the lease option houses are all really expensive. But that she and her husband are making offers on many less expensive houses. They haven’t bought a house yet, because there are as many as 12 offers on each property that they have tried to buy.

She is price shopping, but with 12 offers for any house that is priced right, I can’t see how real estate is dead. 12 offers sure looks like demand to me.

2

12 offers per property is sooooo 2003-2006.

I suspect maybe this happened one time and she’s embellishing a little, or maybe it’s a market that’s near the bottom and many people are trying to get a ‘deal’. Who knows?

3

I smell a rat. 12 offers in this market in 2008???

I think she is try to talking her way into sounding like a good tenant. I would screen her very, very careful if you consider to rent to her.

Something does not sound right.

4

I’m not even showing her my house. She is in the market to buy, so I won’t rent to her. I don’t need a tenant for 3 months while they close escrow.