{"id":2491,"date":"2022-03-10T14:19:02","date_gmt":"2022-03-10T14:19:02","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2491"},"modified":"2022-03-10T14:21:31","modified_gmt":"2022-03-10T14:21:31","slug":"navigate-market-multiple-offers-new-normal","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/navigate-market-multiple-offers-new-normal\/","title":{"rendered":"How To Navigate a Market Where Multiple Offers Is the New Normal"},"content":{"rendered":"
\"\"

How To Navigate a Market Where Multiple Offers Is the New Normal<\/p><\/div>\n

If you\u2019re thinking of buying a home<\/a> today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply<\/a> coupled with high buyer demand means you should be prepared to navigate a highly competitive market<\/a> where homes sell fast and get multiple offers. Realtor.com <\/em>has this to say<\/a>:<\/p>\n

\u201cHomes also flew off the market at record pace as buyers put offers in the moment properties came up for sale\u2026.\u201d<\/em><\/p><\/blockquote>\n

In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That\u2019s because when you find a house and submit an offer, it\u2019ll likely be up against strong offers from other buyers. According to the latest Realtors<\/em> Confidence Index<\/em><\/a> from the National Association of Realtors<\/em> (NAR), homes today are receiving an average of 3.9 offers. That\u2019s the most offers we\u2019ve seen in January for the last 5 years (see graph below<\/em>):<\/p>\n

\"Graph\"

Average Number of Offers Received<\/p><\/div>\n

To help you navigate bidding wars with multiple offers, an expert real estate advisor is key. They know what\u2019s worked for other buyers, what sellers are looking for, and how to help you prepare when it comes time to make an offer. Here are three tips to keep in mind that will help you make the best offer possible.<\/p>\n

1. Know Your Numbers\u200b<\/strong><\/h4>\n

Knowing your budget and what you can afford is critical to your success as a homebuyer<\/a>. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. Pre-approval<\/a> shows sellers you\u2019re serious, which can give you a competitive edge. You should also know making an offer at the home\u2019s asking price may not be\u00a0enough.\u00a0Homes today often sell for more than their listing price. An agent can help you understand the market value of the home and what other homes are selling for in your area.<\/p>\n

2. Be Ready To Move Fast\u200b<\/strong><\/h4>\n

Speed and the pace of sales are contributing factors to today\u2019s competitive housing market. When homes are selling fast, it\u2019s important to stay on top of the market and be ready to move quickly. Your agent will help you stay up to date on the latest listings and help you put together your best offer as soon as you find the home you want to buy.\u200b<\/p>\n

3. Make a Strong but Fair Offer\u200b<\/strong><\/h4>\n

\u200bWhen you\u2019re up against other offers, putting your best offer forward from the start is key. Lean on your agent to write a strong offer and use their expertise on which levers you can pull to make your offer as enticing as possible. One option is to wave some of your contract contingencies\u00a0(conditions you set that the seller must meet for the purchase to be\u00a0finalized). Just remember there are certain contingencies you don\u2019t want to\u00a0give up, like the home inspection<\/a>.<\/p>\n

\u200bBottom Line<\/strong><\/h3>\n

No matter what, your agent is your best resource for making an offer that stands out in a competitive market. Let\u2019s connect to talk through what you can expect as a buyer and how to kick off a successful home search.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? Finish Reading How To Navigate a Market Where Multiple Offers Is the New Normal<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[223,196,38,411,15,18,27,91,57,86,52,49,42,40,403,406,396,63,20,48,54,47,19,17,332],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2491"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=2491"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2491\/revisions"}],"predecessor-version":[{"id":2494,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2491\/revisions\/2494"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}