It’s no secret! It’s a muscle bound Seller’s Market.
Real estate economists tell us that six months supply of available For Sale Listing Inventory represents a balanced real estate market. The smaller the Months Supply Of Inventory the more muscular the Seller’s Market. Take a look at the Months Supply Of Inventory picture below.
Homes are selling fast too.
What Successful Buyers Need To Know About Home Shopping In A Seller’s Market?
When selection is thin and selling fast you’ll want to know about hot new listings before the masses. To keep from losing out have your trusted real estate agent set you up with an instant-email-alert tailored to match your unique and specific requirements. When a listing agent enters their brand new listing into the MLS system for public display, and it matches your requirements, within heartbeats photos and detailed property is sent directly to your email inbox. It doesn’t matter if the new listing goes live at high noon, midnight or anytime in-between, automagically you’ll know about new listings that meet your personal criteria before the uninformed and slow-moving masses
What about Pocket Listings and Private Sales?
We’re seeing more frequent off the MLS radar properties sold via Pocket Listing whisper campaigns and real estate agent grape vines. Savvy listing agents prepping a new listing for market and always-on selling agents are exchanging phone calls, texts and emails about upcoming inventory. Many properties sell privately before they hit the MLS mass market. Ask your trusted real estate agent to send emails to well connected top listing agents, put a ear to the ground and make phone calls to see if they can learn about fresh soon-to-be-on-the-market listings before everyone else.
Our real estate Pros are securely connected and experienced in how to maximize Pocket Listing and Private Sale opportunities. Give your favorite Gary Greene Pro a call directly or 281-367-3531 for details, pros and cons.
How to write a winning offers in seller’s market.
Our team of Pros have sold over a thousand homes this year. We know what works and what flops. Here’s a list of proven tips to help you and yours write a winning offer.
Tip One: See what the seller is seeing:
- Low inventory. Rising prices. Multiple offers. Fast sales. Fewer seller repairs and smaller seller contributions.
- Construction cranes everywhere.
- Daily news about how awesome the local real estate market economy.
- Thousands of qualified homebuyers are moving to the area in 2014.
Tip Two: When you find your dream home don’t drag your feet or hem-haw. Be a bullet, squeeze the trigger and submit your offer swiftly.
Tip Four: Don’t be embarrassed, too prideful or penny wise and pound foolish to offer full price. In this market we are seeing offers submitted at or slightly above list price. These committed buyers usually walk away with the prize. When you find what you like, it’s fine to end the home search tour and submit in an immediate offer before a compositing buyer snatches it up. If you love it, own it. Keep in the mind the mortgage company will complete a property value appraisal. If the property doesn’t appraise for the contract price you can always bail or renegotiate.
Tip Five: To stand out in the sellers eyes consider sweetening the terms of your offer.
- Larger down payment
- Bigger earnest money deposit
- Larger Option Fee
- Short trigger point deadlines and exit clauses for things like the Option Period and days for financing approval
- Provide the seller with written mortgage pre-approval from your lender
- Flexible closing date
- Possible seller lease back
- A personal letter to the seller sharing a little bit about yourself and your situation sometimes helps the seller choose one bidding buyers offer over the other.
Tip six: After your contract is executed you’ll have an opportunity to have the property inspected. Because you’re not buying a brand new home it’s common to turn up a long or short list of items that aren’t perfect. Understand that in a seller’s market a seller is less inclined to pay for the repair of cosmetic items. Have your agent get a bid on the inspection items you’d like to have completed. If the seller won’t pay for them don’t get angry or take your eyes off your prize, your real estate agent will have the names and numbers of reputable repair and home improvement people who can get the job done for you fast and affordably. Don’t lose out because the seller won’t make the property perfect or spend a few hundred dollars in cosmetic type repairs. If you like it, own it.
The bottom line for buyers.
Use these tips and you’ll successfully navigate today’s strong-like-bull seller’s market realities with a smile and success. Good luck, speed and grace. If we can be helpful contact one of our Pro agents directly or call 281-367-3531.
I’m thinking of selling, what about me?
Good news! You’re in the right place and the right time. But you can still lose money if you don’t play your cards right and take advantage of today’s Seller’s Market by using some savvy strategy. We have a Seller’s Market Marketing Plan that is designed to leverage the market for maximum profits and the most favorable terms. For details call your favorite Gary Greene agent directly or 281-367-351.
PS. If you’d like to take a look at our collections of Real Estate Market Report data for The Woodlands - CLICK HERE