Homeownership is the "American Dream", made easy by aligning with the right real estate agent, right? Yes! But even with the right real estate agent, these days with the current market conditions,
Keeping a level head in a chaotic market
Dated: May 26 2021
Homeownership is the "American Dream", made easy by aligning with the right real estate agent, right? Yes! But even with the right real estate agent, these days with the current market conditions, sometimes it doesn't feel so "easy".
All across the Nation, we are seeing a shortage of homes for sale. Locally, we are at a half-months supply which is severely low. Couple that with a massive pool of buyers, driven by the historic low interest rates we are seeing; it creates quite an interesting housing market! Homes are going for well over asking, multiple offers are being received, and buyer (and agent) frustration with losing out on deals is high right now.
You can be the ideal buyer - pre-approved, no home to sell, no contingincies. Yet STILL, you might lose out on an offer. Many times our agents are submiting 5, 6 or 7 offers with phenomenal terms and still lose out because another buyer came in better. It can be frustrating.
Here is what we know and what we tell our clients.
1.) Considering the historic low interest rates, this really is a great time to purchase a home.
2.) When you see a home you like, let your agent know ASAP! You can't find a home you like on Tuesday and expect it to be there on the weekend.
3.) Be prepared to put in your best offer and don't expect to throw low-ball offers out.
4.) Be sure to keep a level head. Don't let the chaos in the market get to you. You may get lucky and have your first offer accepted, but understand there is a very high chance that we may be beat out, sometimes over and over it seems.
Overall, it can be both challenging and rewarding to be buying and selling real estate right now. However, with the right team behind you, with a level head and patience, you can create some really exciting opportunities! Whenever in need of a "level-headed real estate agent", you can count on the team at JPAR - Leading Edge.