I just closed escrow on this 3 bed, 1 bath property in Colonial Village in Sacramento. Since the property did not have central heat and air, the seller and i decided to price it aggressively to attract a handful of offers. Well it worked. I received 17 offers in the one week it was on the market. Most of them were cash. I listed the house at $109,900 and the final sales price was $117,000. The buyer paid all cash and waived all of their inspections in their original offer. That's how aggressive buyers in this price range are being. Paying all cash and removing all contingencies up front.
It will be interesting to watch the market this summer as prices continue to rise, there will eventually be a point where all of these investors should start pulling back. Eventually the prices will not make a good investment for them and they will step back from the market. Continue to check back regularly for updates on this topic.