This is a very difficult market – for people trying to sell their homes!  In reality, this is one of the best markets ever for buyers.  There are many more homes for sale than there are people to make offers on them, interest rates continue to hover near record lows, and many buyers qualify for government tax credits of up to $8,000 when they purchase a home.
 
But even in a Buyer’s Market, the best deals get snapped up quickly.  With many of the government incentives focused on first-time homebuyers, that segment of the market has been experiencing a lot of activity.  Sellers of what are traditionally considered starter homes have the opportunity to sell their house in weeks or even days if they get it in great shape and set a competitive price. 
 
There is a pool of buyers motivated to find a house quickly.  The two main driving forces behind this is that the tax credits are set to expire for those who don’t get a house under contract by the end of April and the recent news that Rural Development (one of the few sources of zero-down loans left in the marketplace) is expected to run out of loan funds by the end of March.  These buyers closely watch everything that comes on the market and immediately make an offer if they like the house.  This is why we’re seeing an unexpectedly high number of multiple offers.