If a home is priced well, the first 14 days of a home being listed is when a tremendous amount of activity will be happening. When a buyer is considering putting in an offer, they always want a terrific deal, we all do. But when a home has just been listed and there is so much activity and showings, there very well could be multiple offers, a bidding war. Sometimes a property could sit there for quite some time on the MLS and no offers come in, then all of a sudden your Realtor submits your low offer and within a few hours another offer is submitted to the listing agent. The buyer is going to evaluate the offer, whether its cash or financing, the price, whether or not closing costs are being asked for, the closing date, and any other contingencies that are being included in the offer paperwork.
It's a good idea to offer the amount that you're really willing to pay with the first offer, rather than "low balling" and then coming up in price...if you really want the home. It's something you have to ask yourself "Do I want to live in this home or am I willing to drive by the home every day knowing someone else is living there?" The market is normally busier during the Summer months when the kids get out of school.
But why is it a tight market? There are less houses on the market this year than last year at this time last year, mortgage rates are still low which is encouraging more buyers to be looking to buy a home, higher demand is causing a rise in prices...supply and demand. There is a higher demand for lower priced homes in the Tampa area which is causing those homes priced $100,000-$200,000.
Those lower interest rates mean you can buy better houses for lower monthly payments.
We are seeing such demand right now because with mortgage rates so low there is much more incentive for home buyers to be on the hunt.
Fire sales do still happen but they don't happen as often as they used to. Vacation homes for those looking to retire in Florida are on the rise also.
Want to negotiate hard on an offer? I'm here for you. It may just take longer, but I'm here for you and will work with you at your pace.
Please let me know if there is anyway that I can help.
I'd love to hear from you, Stephanie 813-624-3332