Don’t get Discouraged in Today’s Real Estate Market
April 29, 2021
There are so many variables when purchasing a home which all depend on the state of the real estate market at the time. When you are looking at today’s market people seem to enter “panic mode” and understandably so.
As I go around speaking to so many different people, their first question to me is “How is the real estate market? I hear it is super crazy and properties are selling for an insane amount above list price.” My response is typically as follows “The real estate market is definitely crazy right now, there’s low inventory so not many options for buyers. Interest rates are also exceptionally low so there are a lot of buyers. Truthfully, it is a great time to sell and a great time to buy, it is just a tough time to do both.” Ain’t that the truth!
Just as majority of others, I have clients I have been working with for a short while, and some for a long time. Both have written multiple offers on many properties and we are continuing their search. In no way is this due to a so-called “bad offer.” The offers we are writing are strong. It is due to the majority of homes selling in multiple offers and for quite the amount above list price. However, this is not for every property. With the lack of inventory there are many buyers looking for homes but there are no homes, so the competition is high.
I also speak to a lot of people who are discouraged by this market and just all-around nervous. I totally get that! However, the right home is out there for you and we will help you find it. Try to not feel discouraged if your offer is not accepted the first, second or even third time. Because that fourth time might just be the perfect home for you.
If you are looking to purchase a home, but are feeling panicked or scared about the current market, trust me we do understand. We are here to help guide and counsel you in the best decision for you moving forward. Yes, the market is crazy but also the interest rates are fantastic and is something to take full advantage of if you are able.
*Please remember, purchasing a home is one of the largest financial decisions you will make in your life. Being comfortable with the offer you submit on a home is huge and a significant factor you should always keep in mind and consider. Don’t just “pay whatever”, really stop and think about it with us, your Realtors, let us help guide you. *
Lead Buyer Specialist & Listing Specialist
Better Living Group/Avenue Realty