Multiple offers…In this market?

If you have been following Raleigh real estate lately, you have noticed how fast some houses seem to be selling. It’s true; several areas are experiencing 2-3 days on the market and many times receiving multiple offers! But what about this “terrible” real estate market that we all have been reading about for the past several years? Well, like most things in life, it just depends on circumstance. While Raleigh did see a dip in real estate prices, we did not experience the extreme highs and lows that many parts of the country have been feeling over the past few years. As the national market is starting to pick back up, we are already in a place of good standing above the rest.

At this time in Raleigh’s real estate market, we are seeing less inventory that usual yet the demand is steadily increasing. This is what is driving the quick sales and multiple offers. Here are some tips to help you get the house you want if you are in a multiple offer situation:

  • Be sure to let your agent know, immediately, if you have any interest in the house and make sure they communicate that to the seller’s agent.
  • If you are looking in an area where houses are selling the same day as they hit the market, be prepared! Make sure you can see the home the first day it goes active in MLS, have a pre-qualification letter ready and be willing to write an offer on the spot, if it is a house you really love. Many times if you wait too long, it will be gone. It takes losing 1 or 2 houses you really like to understand how quickly this current market is moving.
  • If you are aware of other offers on the home, do what you can to make your offer the most attractive. Asking for less personal property, putting more money down on your loan and offering more Due Diligence money to the seller are all ways to make your offer stand out amongst the crowd.

With the right agent on your side, you CAN get the house of your dreams! If you are looking to buy in this market, call (919)414-9738 or use the contact form.

April 3rd, 2013 by Amy Tortorella

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