How to Gain Leverage Over Other Buyers in Today's Competitive Market

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For years now, buyers have been able to come in fairly low and actually get away with offers that sellers would never have accepted just a few years prior to that. But now, things are shifting back to a more balanced marketplace and we are noticing some big changes in the way buyers and sellers are interacting. Here are some ways you can gain the upper hand over other buyers vying for the same (few) properties that are scarcely available in our market today.

Don’t Hold Back When You Find Something You Like
A common mistake made by many buyers in a competitive market is to hold off on making an offer on something they really like. The chance of finding a home that meets every single need is next to impossible, that’s why it is important to recognize your deal breakers and if you like the home for the most part, go ahead and make an offer on it.

If You’re Serious, Present a Serious Offer – The First Time
Now is not the time to be playing games when it comes to trying to get the home of your dreams. With so few homes on the market and so many buyers, there is a good chance you could lose the home altogether if your offer is not strong enough. Carefully consider your offer and act as if that is your only chance.

Engage in the Services of a Local Expert
There is a lot of merit to working with a local real estate agent that knows the area and knows other agents in the area. At times, when all else fails, a seller may opt for your offer just because their agent also knows your agent. Not to mention, the expert advice you can expect from your REALTOR® in being able to recognize a good deal among other things.

Structure An Offer That Makes the Seller Happy
One of the strongest signs of a serious buyer is a large deposit. Though the standard varies from area to area, typically at least 1% is put toward earnest money and it shows some level of seriousness on the buyer’s part when they go above that.

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Other things you can do to make sure sellers pay more attention to your offer and less to others include writing a personal letter to share what you love about the home or be willing to waive contingencies or at least shorten contingencies. Savvy buyers also work to keep their offers simple, clean and easy to read plus they don’t hesitate to offer cash if they can do it, shortening the time period between now and closing.

If you don’t need closing cost assistance, don’t ask for it and finally – if you really love the property, do what works best – offer more money.

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Contact us today to find your perfect dream home!

Top Reasons Why Selling Your Home in Today's Marketplace is Literally a Good Move

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Deciding to sell your home is one of the most significant decisions you’ll ever need to make and before you make that life-changing choice, it’s important to know how the real estate market is performing. During the past 6,7 or more years we have seen a steadily decreasing inventory as more and more buyers venture back into the housing market.

Back in 2008 the housing market was enduring one of the roughest times in history with plummeting home values, too much inventory and virtually no interest in the homes that were for sale.

Sellers Finally Have An Edge in the Marketplace

Today, it’s a world of difference. Our inventory of available homes for sale is at its lowest in 6 years. With just 3.7 months of inventory, or 3,100 active listings on the market, it would take that much time to sell the homes if nothing new were to come on the market.

So if you have been considering selling your home, now is the time to do it. As more and more homeowners ask how they can tell if it’s time to sell, we increasingly find ourselves sharing this important news of our market shift into a seller’s market.

Buyers Can Look Forward to Appreciation Moving Ahead

Buyers are also enjoying some benefits of today’s marketplace, including still historic low interest rates, increased flexibility with mortgage lending practices and market that supports buying more so than renting. But there are far more buyers today that are eager to lock in the still-amazing low interest rates before prices begin to appreciate. Predictions indicate the median priced home will see a three to four percent appreciation as early as within the next twelve months. The challenge, of course, is getting the home that buyers want in a market where there are more buyers vying for the most desirable properties.

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Before everything starts climbing again – now is the time to consider selling your home. Sellers are getting top dollar for their properties, often as a result of multi-offer situations, price competitions and the sheer scarcity of homes.

The same thing holds true for buyers; act now before it’s too late.

Contact us today if you’d like to have us provide an honest evaluation of your home’s value in today’s market. Depending on your motivation level, we will work out a strategy to help you achieve your real estate goals – and make the right move.

760 340 9253

dave@teamkibbey.com