Buying This Spring Be Prepared For Bidding Wars

Dated: 04/06/2017

Views: 100

Buying this Spring? Be Prepared for Bidding Wars | MyKCM

Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!

Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available.

A recent Bloomberg article touched on the current market conditions:

“It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent in the once slow-and-steady heartland, sending prices higher and sparking desperation among buyers across the country.”

Sam Khater, Deputy Chief Economist at CoreLogic went on to explain why buyers are flocking to the market in big numbers:

“In today’s market, many buyers think the trough in [interest] rates is over. If you don’t get in now, it’s just going to be worse later. Rates will be higher, prices will be higher, and maybe inventory selection will be lower.”

In some markets, “thirty-five percent of properties are selling within the first week or two of hitting the market.” Homes are selling at a rapid clip in places like:

  • Denver, CO

  • Seattle, WA

  • Oakland, CA

  • Grand Rapids, MI

  • Boise, ID

  • Madison, WI

  • Omaha, NE

Bottom Line

Let’s get together to discuss your exact market conditions and help you create a strategy to secure your new home in this competitive atmosphere!


Search homes for sale in Johns Creek Ga between $250,00-$450,00.....


Click here for all the results

Bonnie Lelak

Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program homes, investors who flip homes or buy rentals, commercial properties, land sales, lake front properti....

Latest Blog Posts

Slaying Home Buying Myths

Some Highlights:Interest rates are still below historic numbers.88% of property managers raised their rent in the last 12 months!The credit score requirements for mortgage approval continue to.

Read More

US Housing Market Continues The Move Into Buy Territory

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across

Read More

Thinking Of Selling Now Is The Time To Act

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high

Read More

Is Your First Home Within Your Grasp

Some Highlights:‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau.According to NAR’s latest Profile of Home Buyers & Sellers, the median

Read More