Scott finds that home sellers are getting a little cocky these days — and they’re also in no mood to put up with cocky buyers.
Not only are there more multiple bids for homes in desirable neighborhoods, but home owners are also using high rents as leverage to get buyers to budge on their bids, Scott says. The leverage: “Hey, I can always just rent my house rather than accept your low bid. That’s the way it is. Sorry.”
And with rent prices skyrocketing these days, they have a point.
File under: The dark side of a market rebound