Thinking of purchasing a home in Howard County? You may need to come prepared to battle it out for that home! As surprising, even shocking as that might sound, somehow in the last few months ourmarket has morphed from a buyers’ market into a sellers’ market and it seems that the Buyers are the last know.
Around the office water cooler, all the talk has been about how many offers we (as agents) have written for our clients because they were competing for a home and lost out. I overhead an agent saying how he has already written 4 offers for a client and just submitted a 5th offer yesterday and was waiting to hear back and this definitely seems to be a common theme.
Instead of re-hashing all of the gory details about why this is happening now (see previous blog post on Howard County statistics) and focus on two concepts: supply and demand. Right now, we simply have more Buyers than Sellers, so the Sellers are large and in charge!
So, what’s a buyer to do should he/she find themselves in a competitive offer situation?
Only your agent can best advise you in this situation, so take advantage of the knowledge, wisdom
and experience that your agent has to offer. Secondly, don’t be afraid to put your “money where your mouth is”. If you really want that home and would regret losing it, then do what you can to put the best offer on the table. One of my colleagues always asks people, “if you were to lose this house, how would you feel”?
For help with buying or selling your home, visit http://www.weichertnewcolony.com or call 410-381-3331.
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