Housing Boom Era Type Home Buying Tactics Reappearing in St Louis Real Estate Market
During the home buying frenzy of the housing boom, which peaked in 2006, it was common to see home buyers, in an effort to beat out other buyers fighting for the same home, include price escalation clauses in their offers and make “naked” (contingency-free) offers. It was also common for a seller to purposely price their home low in an effort to rein in multiple buyers and pit them against each other in a bidding war. We are now seeing this all again as buyers compete to buy homes from an inventory of homes for sale that has shank dramatically in the past year.
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