Not every market is competitive and real estate markets can swing towards the buyers and sellers from time to time. For a while, we saw the buyers market take hold meaning there were just too many homes on the market for the amount of buyers and buyers had the pick of the litter. But now, the pendulum is slowing swinging the other way, which is good news. Our housing market is recovering and the general economy is in a much better place than it was just 4 years ago. With this comes competitive offers on desirable homes. First time buyers, especially, may find themselves getting bid right out of the deal. I have had a few clients that find the real estate market frustrating especially if they are in a price range that's competitive.
For the Portland real estate market, $150,000-$300,000 is about the most popular price range and the most abundant. There are more homes in this price range and you would think that because of the massive inventory, the competition would not be as fierce. It comes down to value. If a home is under-priced in this range, it usually gets picked up fairly quickly. Investors and cash buyers typically have first grab at these homes and if they are foreclosures or short sales, the banks would prefer to see cash in hand rather than the run-around with financing again.
That doesn't mean that buyers are exempt from these style of homes; they simply must be more creative.
For starters, having an informed real estate agent on your side can literally make the impossible, possible. How? By knowing about the listings before they even hit the market. As a Portland agent I have sold hundreds of homes and may know of a potential seller right now that has a property perfect for your needs and in your budget. By cutting out the middle man, we put you, the buyer, at the forefront of the offers helping you get the right home. My goal is to work for you and find you the right home using whatever means necessary. I may even have potential listings just waiting for an easy offer to come rolling in.
If we DO have to hit the MLS for properties, my skill and seasoned negotiating tactics can get your offer on the top of the list. Now, I know you don't want to hear all the fan fare of how agents work but by negotiating outside the norm, you actually have a better shot at being chosen than many other offers.
If you're dealing with a bank, it's all about communication. Constant and consistent contact with the lenders get things done faster. It's agents that sit around waiting for the banks to call them that lose the deal and have frustrated clients. My promise to you is better communication using proven keys to getting your offer shown and accepted.
Every offer is different and every scenario is unique so we tailor our offer and communication to our audience with personal appeals and negotiations. If you're dealing with a family, a personal letter might be the swinging point they need to accept your offer. Lower contingencies, add incentives or increase the earnest money; all can create a more attractive offer but again, each transaction is unique and knowing how to navigate the details are what make a good real estate agent, great.
Getting frustrated with the market? Give me a call and let's see what we can do to get you the home you desire.