Mortgage Industry News
« Return to Mortgage Industry News
Suddenly Fierce Competition in Housing Market
Friday, March 13, 2015
The competition in today's housing market is suddenly fierce, so fierce that some are calling the cops.
"We got shut down!!" laughed Catherine Luther, an agent with Channing Real Estate in the Boston area. "I've been in this business for 30 years, and it's never happened before."
At a Saturday open house at her listing in suburban Belmont, she had over 100 people in 45 minutes, which blocked the street. Neighbors called police, who shut down the open house. Then Luther smartly hired an off-duty officer to direct traffic the next day for the Sunday open house. The officer counted more than 150 cars. The three-bedroom colonial house went under contract three days later with more than a dozen bids.
Read Full Article