Bidding War? Bring It, Baby!

https://youtu.be/lfrwDv1DgqY This weekend, I submitted offers in two "bidding wars". OK. They were more like bidding skirmishes, as a bidding war these days usually garners 3-5 offers compared to the 25-40 offers we were seeing a few years ago. Multiple offer situations tend to scare buyers. But guess, what? My clients offers were accepted in both cases. Multiple offers are unavoidable when there are fewer listings than buyers, so here are my tips on how to be victorious should a bidding war be in your future. CHOOSE A STRONG TEAM: First and, absolutely, without a doubt, necessary is choosing the right Realtor. This is no time for … [Read more...]

Buying A Home – Stage 4 – Negotiating

Despite continued reports that buying a home in the Phoenix real estate market is like shopping at a swap meet, there are just not enough homes on the market to satisfy the demand. Competition can be fierce, especially for the choicest properties. Keep that in mind when you submit your offer... The inventory of homes in Phoenix has decreased by over 20% in just the last 3 months. Sales volume has increased by over 17% during that same 3 month period. Even as the number of foreclosures hitting the market has increased, buyer demand still exceeds the supply.  All these facts and figures become very important when you are putting in an offer … [Read more...]