CNN had a piece about how quickly homes are being snapped up. It has been my experience that if you want a house in this market you have to act quick. Many times listing agents are only taking offers for about a few days. I have run into a few houses were offers were taken for up to a week another others that only seemed to be taking offers for 2 days.
Whenever my agent has called a listing agent they always make quite a fuss about how many calls they have been given about a particular house and how quickly you have to act. Even with the multiple offers I wonder if the fuss that the listing agents say they are getting on houses is completely accurate. I've made offers on about 90% of the houses I've seen but there have been those few I've been on the fence about. It doesn't help the decision making process when you feel like there are ten other people ready to push you over to get the house.
I have been thinking for a while about the way offers are made and I do believe a public, silent auction system would be the best. I want to see what other people are offering and how many offers are being made - not just take a listing agents word for it. I'm not sure how this would work exactly so I'd love to hear how others think this would work. Have any ideas?
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