There are a number of properties that are in multiple offer situations right now. I’m working on a bank deal right now and we don’t know the final tally, but we know for sure that there are 10 offers on the property. That was within the first four days the property was on the market. It’s a newer town home in Maple Grove priced under $110,000. If it were priced at $120,000 it would not have garnered nearly the interest that it has just $10,000 lower.
Any home can be sold. It’s all about value. It’s not about the marketing. Trust me. When you see the “marketing” that the REO (real estate owned) agents do, you will know that marketing doesn’t sell homes. Is it priced aggressively? Is it on the MLS? If so, it will sell.