How to Buy or Sell in Today's Market

Posted by Blanchard and Calhoun on Monday, March 7th, 2022 at 9:52am

 

Real Estate Market Trends

With homes currently in high demand there is no denying it, it is a seller’s market.  A seller’s market occurs when there are more buyers than there are properties. You can determine if it’s a seller’s or buyer’s market by asking your agent or going online to look at the number of homes that are selling in your area. Listing your home in a Seller’s market is definitely advantageous to you because not only will your property most likely sell faster, but you are likely to receive multiple offers which could drive up the purchase price.

 Buyer’s shouldn’t get discouraged though. While the market is competitive there are still some strategies buyers can take to put themselves ahead of the competition.

“There is no better time to buy a home than today. Interest rates remain historically low and as prices continue to rise, so will your home equity.”- Andrea Bowles, B&C Associate Broker.

 

1. Look for homes under your budget so you can bid up. There is a good chance the home that appeals to you will also appeal to other potential buyers which will cause a bidding war; therefore, you will want to have enough funds to make the highest offer.

2. Work with a seasoned agent. A knowledgeable agent will ensure that you get the best possible results. They will possess the skills necessary to help you win a bidding war. 

3. Present your best offer quickly and be prepared for it not to be your final offer- Again, you may enter into a bidding war.

4. Waive stipulations also known as contingencies. If a property has many offers, it’s likely that the seller will accept an offer that does not have any stipulations.

5. Put down a higher Earnest Money Deposit: This shows you are possibly more serious about purchasing the property vs other buyers.

6. Don’t Give Up! The perfect home is out there and you will find it.

 

Are you ready to buy or sell a property? Let one of our agents help you get started!

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