Buyers Beware!!

It is a buyers market out there for sure. In our market Inventory is high, taxes are low, interest rates are holding steady, and funds are flowing to those with good credit. This is all great news unless you listen to THE NEWS. Keep in mind that each market is very different, and not every home seller is in panic mode over the sale of their home.

My concern is always making sure, as a REALTOR, that I price the homes accordingly with fair market value at the time of the listings. This means double checking my CMAs (Comparative market analysis) to make sure that I am as accurate as possible so my clients homes are not overpriced for the market causing them to experience any unnecessary delays in making a sale. Sure, in this market, homes may sit a tad longer than we would like, but it will not be because I have not done my homework.

Buyers beware!! When you have found the right home and you are ready to offer a contract, keep in mind that the market pressures have already beat you to the punch. Low balling an offer to gain the steal of the century sounds realistic enough, but may not be the best route to take. You may have just shut down all negotiations altogether, and that home you want so much could easily end up belonging to someone else. Yes I know that your response will be if it were meant to be, it will happen. Just know you play a strong role in whether or not it is meant to be.

Study your market of interest thoroughly. Ask tons of questions. Ask your agents to do CMAs for the homes your are interested in. Arm yourself fully before taking the next step. If a seller feels insulted by your offer, you may never get that second chance on that home you want so badly.Yes, the market is fully in your favor for the moment, but not a total slamdunk that any offer goes!!