Buyers Are Writing Contracts at a Fast Pace!

As a Buyer Agent, I am exhausted/happy to report that I haven’t been this busy in months! I have eleven active buyers working with me now….and, in the past 2 weeks, five have written offers and are now under contract! I am also keeping track of potential buyers who “dropped out” of the market during the slow fall and winter….I want them to know that with interest rates at all-time lows and inventory in short supply, we can sell their current home and find a new property that meets their requirements…so waiting isn’t a good strategy!

My big problem is lack of inventory. Everything that is well-priced and in good condition is selling so quickly that many times, when I call to arrange a showing, the house is already under contract! I have to suggest to my buyers that if they like a house….write, write, write before someone else snatches it away! Reminder: don’t even bother to write an offer without a good, strong pre-approval letter from a lender.

Despite the hot market activity, I am still negotiating price and condition. The house has to be priced “right” and in very good condition to attract a quick offer. Also, we are not over-bidding because appraisals are still a concern. We don’t want the deal to die if an appraisal comes in low, forcing the buyer and the seller to negotiate (again) on the new price.

One other thought….I have to help my buyers understand that negotiating a contract is just the beginning of the process. We still have to work with the home inspection and the appraisal so that we can close the deal. Working with a Buyer Agent helps take some of the worries off of their shoulders.

Barbara Ciment, Realtor