How Our Buyers Are Getting Offers Accepted & A Maryland Real Estate Market Update
The Current Market
If you’re thinking about entering this market as a buyer or a seller, we’re on the coattails of the strongest real estate market in history.
Right now we’re looking at what’s called an inverted yield curve. And to put that
simply it’s has to do with the treasury bonds, both short term and long term. What we’re set up for now and the conditions that we have right now, have proceed every recession in history.
We’ve gone through one negative quarter already, quarter one, quarter two. If it goes again negative, then by definition, we are in a recession. This is why we’re doing everything we can right now to inform our clients on how to position themselves so they come out of this shift in the positive.
Eventually the rate hikes that the federal reserve are making will result in decrease home sale prices and increase inventory in the form of competition for you on the market. What that means to you. If you’re a buyer in the market right now, looking to make a transaction over the next year, is that now is the best time for you to purchase a property.
Buyer Strategies To Get Offers Accepted
This month, we’re gonna focus on talking about buyer strategies to get your offer accepted. One of which you hear about all the time is offering over asking. So we have the list price, we walk into the house, and if you really want it, it’s well worth considering how you can go above and beyond that offer price. You might not wanna look at the very top of your budget beyond that.
There’s also some other creative strategies such as offering to pay seller taxes. So that way they are paying less at closing, but you’ll be paying it instead. We’ve even seen where the creative strategy of offering to pay for the sellers moving truck is just an extra added incentive to get the seller, to consider why your offer is the best, the strongest, and should be accepted.
Another one of those things we’re doing is having the inspector come with us on the showing, especially when we know that our buyers will be putting in an offer. That way on the back end, we can write an offer as is with no inspections.
What we’re seeing with a lot of our sellers, that can’t close quickly, is they may have to extend their closing date. So what this looks like is two different things. Either they can extend their closing date to either 30, 60, or 90 days to give them time, to actually find another property to move into. The other option is a leaseback also known as a rent-back where the sellers are actually gonna be able to lease the property from the new buyers for a certain period of time, giving them the option to be able to find a property before actually moving out.
On The Flip Side (Sellers)
If you’re considering selling, there’s no better time then now. All of the tips listed above, are all the things that buyers are doing right now to get into your house!
How Much Is My Home Worth?
What To Prepare For
What you need to be prepared for is acting quickly, making smart analytical decisions, and leaving your emotions aside. We want to position you to make the most amount of money, buy the best deals, and maximize your bottom line.
So if you have any questions about how to buy or sell your home, feel free to contact the Newman group at any time, because we’re here to help you with all your housing needs.