Fences & Flowers

The CB Bain Blog

Dreaming of a new home can be fun and exciting. But when you’re ready to begin the buying process, it can be overwhelming. Where do you start? Should you move to a different state? Should you stick around? Do you want a different kind of home? Is the busy city calling your name or are you content with rural peace and quiet? How can you find the best real estate agent and lender?

In a hot real estate market, one house may get more than a dozen offers in a matter of days. So how do you stand out as a buyer? Is it worth writing a love letter to the seller?

In the Pacific Northwest, the real estate market is on fire. It’s been a seller’s market for a while, and 2017 is showing the same trends. Folks want to live here, and we can’t blame them. But finding the perfect home with such low inventory is tough. And winning the bidding war? That’s an even bigger challenge. So what’s a buyer to do?

Every day we hear stories of buyers writing a dozen offers and losing on every one. We hear of buyers who have decided to renew their leases for another year in hopes that they’ll be able to save more money for a larger down payment, or the inventory will have a little more freedom when they decide to try again at the dream of homeownership.

In Seattle, it’s definitely a hot real estate market. With all the latest corporations hiring throughout the area, there are simply more people moving here than there are selling. Consequently, listed homes are snatched quickly, often with dozens of offers made during the negotiation process. So what’s a buyer to do?

When the demand is higher than the supply, competition is intense in the real estate market. As a buyer, it’s tempting to do everything you can to make your offer the most attractive to the seller. But how much is too much?

What comes first; the chicken or the egg? In the world of real estate, inspections usually come after an offer is made. But right now, in Seattle and many other seller’s markets, pre-inspections are becoming more and more common.

Our market is truly feeling the sense of supply and demand. There are not enough properties to sell! We really need listings! Inventory (supply) is very low and the pool of buyers (demand) is very high.

How much is enough when it comes to investigating what will most likely be your largest financial investment?



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