Multiple offers, bidding wars, and residential real estate selling for over the asking price have become the new normal in today's housing market. If you're thinking of buying a home in the near future, you may be wondering if you really need a residential realtor. Here are three reasons why having a professional on your side is more important than ever.
If you are in the market to buy a home, you may find yourself in the midst of a multiple offer situation. This is when there are two or more buyers interested in the same property. While this can be an exciting time, it can also be very stressful. What you offer in terms of money, occupancy, and contingencies can determine whether you get the house or not. It is important to remember that you are not alone in this process and that you have the support of your real estate agent.
Typically, when there is low inventory in the housing market, prices will rise. This is because there are more buyers than there is residential real estate available, so competition amongst buyers drives up prices. Additionally, sellers may be more likely to hold out for a higher price since they know that there are fewer homes on the market. Low inventory can also lead to longer waiting periods for buyers, as there may be bidding wars on properties. Ultimately, low inventory, like what we saw in 2021 and continue to see in 2022, can create a situation in which it is difficult for buyers to find a suitable home at a reasonable price.
If you're looking to buy a home, you may be wondering what to do when home prices keep increasing. While there's no one answer that fits everyone, there are some things to consider that may help you make the best decision for your unique situation. Traditional advice says that if you're flexible on when you buy, you may want to wait until prices start to level off or decrease. This could help you get a better deal on your home purchase. Post-pandemic house hunting, however, has proven otherwise.
Housing prices are continuing to rise with no sign of stopping. If you are interested in purchasing residential real estate in 2022, hiring a residential realtor is your key to not only finding a house in this crazy market but also negotiating the best deal on one as well.
Reach out to a residential realtor for more information.