Posted May 1, 2019
That means home buyers can afford more house for their money. But, it’s also heating up an already tight market. While money talks, there are other measures buyers can take to help entice sellers into accepting an offer. Spring is usually a seller’s market, according to real estate experts, as inventory is lower than at other times of the year. That means competition can be fierce.
“We’ve got about 35 to 50 days (of inventory) on the market for some homes, but we are seeing also that if they’re really priced right, they go pretty quick,” said Tommy Jackson, owner of California Home Real Estate.
Buyers who want to purchase right now have some options that will help them get the attention of sellers.” Try to get any advantage you can with making an offer, whether that’s — a lot of buyers write letters and tell them why this house is perfect for their family,” said Jeff Edwards, manager at Epic Mortgage. Other options include removing contingencies to the sale or seeking full approval ahead of time from a mortgage lender, so the transaction can be completed quickly. “So a cash offer always is tops, you know, as far as it’s a sure thing. It’s going to close,” Edwards said. “So we try to get our buyers as close to that as possible.” Patient buyers may want to wait until later this year, when more inventory usually becomes available