We’ll go ahead and say it out loud. It is a really shitty market for buyers right now.
The lack of inventory has created a frenzy of multiple offers for any listing that has been decently updated in a desirable location. And sometimes the not so updated still get lots of action. Have a house to sell first? Forget about it- sellers are taking offers without that contingency if they have the option. Offering under list price? Don’t waste your time. We have recently submitted offers up to 20k above list and still didn’t get it accepted. We lost out to cash buyers, or buyers without contingencies.
20k above list price was an extreme case- the listing was priced low to begin with. But 5-10k above list is common these days.
It can all be extremely overwhelming, especially for first time home buyers. But being prepared and knowing to be aggressive up front will help.
If you have questions about buying a home, come talk to us. We can properly prepare you and discuss strategies on how to beat out other offers. We’ll go over scenarios if appraisal issues arise. We are also diligently on the hunt for off market properties for our buyers.
It doesn’t have to be scary with the right help. We’re ready when you are!