Multiple Offers and a FAST Moving Market
Our local market has a very low inventory - probably on the order of 30% fewer homes on the market than from historical levels. Good properties are in short supply and high demand. But the number of buyers LOOKING for them MAY NOT have declined. Lots of buyers and a short supply of homes mean they are going to go off the market FAST.
If you are sincere about purchasing a home, you MUST be in absolute READY POSITION to do so. That means you must have ALL of your financial ducks in a row. You MUST know that you are financially qualified to purchase. Get a pre-qualification with your lender NOW.
You must also be MENTALLY ready to purchase in this market. There is little room for vacillating. You must be decisive. I would NEVER want you to make a purchase that you are not certain of...BUT...if you are the type of person that has to think about something for a week (or perhaps even for a day) before making a decision, then this is NOT the market for you. Sellers are NOT going to wait for you to "think about it." If you delay too long, someone else will beat you to the property.
Multiple offers may occur on a property you like. This changes the negotiation landscape drastically. If you want to be cute and try to negotiate too hard, you're going to most likely lose the property. If YOU like the property, someone else will like it too. Whomever steps forward first and foremost, will win.
It's a different market we're in...not an impossible one. I can help you navigate the current situation and find the home you love.
CLICK HERE if you have questions or comments or would like me to contact you for a discussion.