Last year at in Gwinnett County alone there were 531 properties priced between $100,000 and $150,000 sold between April 30 and June 30th which means there were approximately 600 homes for sale around compared to only 251 available listings in the same price range this year.
1. It’s a buyer’s market
Although home prices are still low; they are rising –up 10% from last year.
2. There are plenty of properties to choose from
The housing Inventory is smaller than it was at this time last year because prices are not high enough yet to attract conventional sellers into the market, and the foreclosure activity has slowed down.
3. Sellers will consider offers far below list price
Sellers are receiving multiple offers and many properties are selling above list price
4. If it shows available on the web it must be available
It can take a few days before status changes show up on consumer web sites. Short sale properties and foreclosures often don’t show an accurate status on consumer sites. Even the real estate MLS web sites can show active status for properties with recently accepted or verbally accepted contracts. A home showing available could have several offers in. Don’t be afraid of “bidding wars”. If it’s the right home for you and you get there in time with a good offer, you could win the bid.
5. Being approved for a loan gives a negotiating edge.
It is always best to be pre approved for financing before looking for homes and many sellers will require written proof of a buyer’s pre approval before responding to an offer. But I have seen more cash buyers in the market than ever before. A seller will most likely choose a cash buyer over a financed one when considering multiple offers.
Successful home buying in today’s real estate market is attainable. All you need is a little patience, financial preparation and the willingness to act fast and make realistic offers when desirable properties come on the market. Those efforts combined with the services of a knowledgeable and responsive Buyer’s real estate agent will get you to the closing table and in your new home.
Click on the highlighted links below to have a look at available homes with;