The real estate market is constantly changing, but the last 2 years have brought about significant change. With the decrease in listings across all of DFW, buyers have been forced to try and make their offer stand out among the rest. Many of the tactics Realtors are suggesting are not new to the buying process but have not been necessary for quite some time. For instance, there has been a rise in offers over list price with an appraisal waiver, which essentially means a buyer is willing to pay a predetermined amount over the appraised value of the home. The continual increase in home prices has been directly impacted by purchasing options such as these as the purchase price then becomes a new “comp” realtors and appraisers can use to determine surrounding home values. We educate our clients on their options to ensure they are well informed and understand the benefits and possible consequences certain negotiations can have. With the market for buyers being highly competitive it is imperative now more than ever to have a trusted, knowledgeable, and skilled Realtor on their side.
Fortunately, sellers are doing very well with the current market conditions. The main concern sellers have is where they will live once their home sells. When we represent our clients on their listings, we specifically ask what their plans will be should their home sell within the first week on market. Typical closings take around 30 days to close once an offer has been executed. To help ease the move out process for our clients who need additional time we negotiate a seller’s lease back, which allows the seller to become a tenant to the new owner for a set amount of time. Having these conversations prior to listing our clients’ homes helps reduce some stress from the home selling process and helps our clients create a plan such as finding a hotel nearby, choosing to move into a short-term apartment, or working to quickly secure their dream home.
As you can see there are still a lot of options for buyers and sellers. Don’t put buying or selling your largest investment in life in just anyone’s hands. As licensed Real Estate Agents we take immense pride in providing superb customer service and extensive market knowledge. Working with a Realtor that knows the area, is trained in negotiations and how to communicate effectively with other Realtors will certainly help you get into your dream home. Contact us today to discuss your buying or selling needs.