You’ve heard the term, “burning the candle on both ends,” I’m sure. I starting to really understand that all of a sudden. Our local real estate market has been a bit tenuous this year, but in the last two to three weeks it has taken off like a rocket for many of us. That’s a good thing for the bottom line, but the reality is buyers are getting run over, and it’s running me ragged.
It is no longer a buyer’s market, and buyers who want to act like it is are getting left behind. A good home coming on the market at a good price will be gone in 48 hours or less. It is more than likely to have two to three offers on it, and bidding wars are getting fierce. I’ve been telling my clients, “If you see something you like, don’t hesitate. It won’t be here tomorrow.” That has played out over and over in the past few weeks.
Most of my clients get their properties, but those who think it’s still a “low-ball offers, ask for the moon and expect the sellers to come begging for an offer market” are getting left out in the cold. With the increase in interest rates, many will be blocked out of the market. Don’t misunderstand, there are bargains out there, but they rarely last a couple days. So, if you’re in the market to buy, be wise and deliberate, have all of your documents ready to make an offer and don’t assume the seller is desperate. He’s not.
Let’s get together and take focused action. You can win at this game, but you’ve got to play with determination. You don’t want to miss out chasing properties, and we can avoid some of that with a solid plan. Trust me, you don’t want to get worn out like Walter below.