Spoiler Alert: Start with the heart
According to the Australian Bureau of Statistics, Melbourne is the fastest growing city in the country, with a current population of 4.64 million. The prediction is that Melbourne will soon overtake Sydney as the most populated city in Australia.
To begin the year, the early numbers reflect an earlier-than-expected boom of business for Realtors. In this business, no one moves or buys a home between Thanksgiving and Valentine’s Day – right? Well, not exactly – and if these unseasonal numbers are reflective of a new normal, the work week for Realtors just got longer.
Last month, the Consumer Financial Protection Bureau unveiled new rules to help protect consumers from unscrupulous mortgage lending.
As home inventory and interest rates remain low in many parts of the nation, consumer confidence in housing is beginning to return. This is particularly true in California where supply cannot meet the demand of new homebuyers and investors. It is not uncommon that reasonably priced listings receive a deluge of competing offers. With the additional availability and attractiveness of owning a bank-owned property (more house for less money), some brokers have received more than 80 offers on one REO property. With the level of multiple offers at a record high, managing and securing the best offers while maintaining quality service may prove challenging.