Let the Bidding Wars Begin! As Fewer Homes Remain on the Market, Buyers Scramble

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If you have been reading anything about the real estate market for the past several months, you probably know that interest rates have touched on record-setting lows and they stayed there for quite some time.  For what seems like the longest time ever, we have been telling anyone and everyone that will listen to buy a home now before it gets too late!

Don’t Become a “Coulda Shoulda Woulda” – Get Out There and BUY Now

Believe it or not, now is still an excellent time to buy a home.  In fact, there are so many buyers out there that we have almost entirely run out of homes to sell!  What that means is that the market has shifted to a sellers market and the control now lies in their hands.  What is unique about this situation is that despite the seller-centric market we are seeing right now – buyers are still holding a lot more buying power than ever before.  The average home prices have not had enough time to creep up too high as of yet but they will eventually.  So when you combine low prices with low interest rates you get a winning combination for buyers.

If You’re Looking to Sell – Call Us Today!

How does all this impact sellers?  Well if you are homeowners that have been waiting the market out for things to change – the time has finally come!  When you have far more buyers than there are homes on the market, you end up with bidding wars – and boy can it get ugly.  Ugly for the buyers, that is. When two, three or even more buyers are vying for the same property, things get complicated.  But if you are the seller it is a good “complicated”.  You might find buyers willing to forego inspections or other closing considerations.  You might find someone willing to put in an offer with an escalation clause attached to it, allowing you a great deal on the sale of your home.  Any way you cut it, when there are several buyers with their eyes on one prize – you, the seller, will come out a winner.
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This could not be a better time to buy or sell but with the very limited inventory out there right now, we are actively seeking out sellers so we can keep this market rolling!  If you are considering selling now or in the foreseeable future – or if you know anyone that is – contact us today and we will get the job done for you!