#RealEstate Sellers’ Market – What does this mean?
Sellers’ Market – What does this mean?
Simply put, there are less homes available for purchase, than there are people who are looking to purchase them. With this said, you need to make sure that your offer stands out from the crowd.
- Don’t wait. Most homes are not on the market long. If you are interested, make an offer!
- You never really know if someone will take a drastically lower offer than their asking, but don’t be surprised if the seller doesn’t respond, or doesn’t consider any future offers from you, if your first offer is significantly lower than the asking price.
- With the financing restrictions still high, a pre-approved letter doesn’t always mean that the financing will go through without any major hiccups.
- A slightly lower cash offer might be accepted over a higher financed offer.
Each deal is unique and what works for one, might not work for another. The market is in constant flux, and can even vary per city and neighborhood. This is where a qualified Realtor can be a great asset in your corner.