Your Questions Answered
At Ashlar, I firmly b that an educated home buyer or seller is best equipped to make their own decisions. That’s why I take time out of my day each and every day to answer someone’s real estate question. And, when I think the answer can be useful to you as well, I share it here. So without further ado:
It’s certainly a tough market currently. Here are some specific stats so you can see what you’re up against: https://AshlarRE.com/stats
The only way to make sure you don’t buy a house is to give up. And the other truth is that the market will not always be like this…. but it probably will continue like this for the next 6-24 months at least.
Currently, I am still hanging between 1-4 offers before getting one accepted for buyers.
It is *critical* currently that your offer be presented/structured a certain way, especially if financing, to have any hope of it getting accepted currently.
I can tell you from the listings that I have that most agents still put together offers like it’s still 2017. They are doomed to failure from the get-go. Of 10-15 offers, only 2 or 3 are actually effectively put together.
Currently, it takes an extremely adept agent who can read between the lines on each home’s specific circumstances, and who can effectively wield the new tools that have been made available to us in the last 6 months to put together an offer that has a chance…. and at the same point in time, it takes a buyer willing take consultation.
While you may be over asking, if the house is fully renovated, with a pool, in an outstanding location backing up to a golf course, $5000-$10000 over asking almost certainly isn’t going to get it done currently.
That said, there are still circumstances where you can even get a home under the asking price (closed one last month!).
Just depends specifically on what you are looking for. Just know that the right Realtor makes a HUGE difference in the current market for buyers.