Buyers Feeling the Crunch!

Buyers Feeling the Crunch!

Buyers have been feeling this crunch with 9 out of 10 homes receiving multiple offers in hours due to the lack of homes for sale on the market as we head into Spring.  March as surely been an exercise for eight of my buyers.  When you look at the time missed from work to be the first at the home so that they have an opportunity to even think about their purchase decision.  Don't get me wrong I am not complaining, I like helping people through some pretty tough challenges.  

I am sure the sellers will come to market; it just, what will they find once they get there?  The purchase offer Sale of the another property is becoming a thing of the past as contingencies for buyers disappear as we move further into a sellers market.   The Housing Affordability Matrix starts to increase out of affordable housing and prices continue to rise.  Rents are continuing to rise as well pushing more and more renters into looking into purchase options.

Many buyers are asking today, why would a seller accept offers so quickly not giving the home an market time for an opportunity for more offers.  This is the hard part... everyone has choices and choices are just that.  I know if the past they used to say that the first offer is typically your best offer.  The other challenges that Listing Agents have with their sellers clients is how to handle when the offers go over what they believe the house will appraise for. That is the dilemma for today if the house doesn't appraise the buyer and seller must either agree to change the purchase price or the buyer is bringing money to closing to stay with that house.  

Are there some practical options?  You bet there are, connect with us today to learn how to improve your options.

 

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Chris Rocheford
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