Aspiring home buyers should think outside of the box, act fast and be prepared to make a competitive offer in today’s seller’s market.
“There are more buyers than sellers in today’s marketplace, and homes are selling quicker than inventory can be replaced in many neighborhoods,” said Berkshire Hathaway HomeServices Florida Network Realty President and CEO Linda Sherrer. “The current market is more favorable to sellers. However, buyers who are well organized and ready to move when they find the right home are generally the ones who will close on the home of their dreams.”
There are an abundance of buyers in today’s market. To ensure your offer has the best chance of being accepted, there are several steps you can take:
- Get pre-approved before submitting an offer. This tells the seller that you are a serious buyer.
- Gather information about the days on the market and list-to-sell ratio for the neighborhoods that interest you. Your Realtor can provide this information and explain what it means.
- Make a “clean” offer. If the area is highly competitive, try to have as few contingencies as possible.
Berkshire Hathaway HomeServices Florida Network Realty is working with more buyers and sellers than ever before. In 2016, the company’s pending sales increased by 10 percent from the previous year. In addition, the average sales price has increased 13 percent and the sales of homes priced over $500,000 has increased more than 20 percent compared to last year’s results.
Meanwhile, the number of existing homes available for sale has fallen 15.3 percent, according to the Northeast Florida Association of Realtors.
“While the inventory is low, it’s not so low that buyers can’t find their dream home,” said Berkshire Hathaway HomeServices Florida Network Realty Broker/Executive Vice President Christy Budnick. “Nevertheless, it is important for buyers to be prepared to increase their odds by submitting a competitive offer.”
Whether you are interested in buying or selling, Berkshire Hathaway HomeServices Florida Network Realty’s experienced agents can guide you through every step of the process.