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Bidding War | Blog

Friday, October 16, 2020   /   by Garrett Mann

How to Prepare for a Bidding War [INFOGRAPHIC]

Some Highlights

With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers.
From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home.
Let’s connect today to be sure you have the guidance you need as the competition for homes heats up this season.

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  real estate, housing market, buyers, homeownership, housing demand, 2020, buying, homebuyer, selling, housing market updates, demand, housing supply, economy, for buyers, home price, supply, home affordability, homebuyer preferences, bidding war

Tuesday, August 4, 2020   /   by Garrett Mann

Today’s Buyers Are Serious about Purchasing a Home

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

It’s no surprise that buyers are out in full force today. Many Americans now need more space to work from home, and the current low mortgage rates are providing an extra boost of motivation to enter the housing market.
If you’re considering selling y ...

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  real estate, buyers, homeownership, housing market, sellers, 2020, selling, housing demand, interest rates, demand, housing market updates, for sellers, bidding war

Monday, July 13, 2020   /   by Garrett Mann

Buyers: Are You Ready for a Bidding War?

With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios. Danielle Hale, Chief Economist at realtor.com explains:

“People are surprised that prices are rising, not falling, because in the last recession home prices fell, the difference this time is the severe shortage of homes for sale…We are seeing bigger price increases with [a limited] number of homes...That is likely to lead to more competition and potentially multiple offers and bidding wars.”

According to the recent&nbs ...

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  homeownership, investment, real estate, buyers, home, homebuyer, housing market, sellers, wealth, equity, 2020, selling, buying, economy, housing demand, housing supply, prices, home price, interest rates, demand, supply, bidding war