No. It has been a real estate buyer’s market for years….BUT no longer. Inventory is down and if you are a buyer looking at Salt Lake real estate, you can tell how much competition there is to be the winning bidder. A LOT!
I have told multiple clients this month that they were too late in wanting to write up an offer on a home they fell in love with. If you view a home and say “I love this house, it is priced perfectly and we want to write on it right away!” then DO IT. If you wait a few days, it will be gone. Homes are selling for more than what the comparable value is in many local Salt Lake zip codes.
We are finding multiple offers have been submitted and buyers need to have their financing secure and ready to go. Don’t watch your favorite homes get sold to “the other guy”. Choose me to represent you and stop missing out on the good ones. I will show you proven strategies to get in front of the other offers. It is not always about bidding the most money. Sellers are free to choose whatever offer they want.
Remember, buyers determine what the prices will be. It is my job to sell the offer price to the listing agent/seller. More often than not, I am successful.
What are a few of my best tips?
Before writing an offer, it is always a good idea to contact the listing agent to get the sellers’ status, what the possession time frame should be, and also if there are other offers on the property. In Salt Lake County, we have been in a seller’s market for a few months now. At many price points and zip codes there is an abundance of activity! There are sellers/banks that are listing the sales price below market value to get multiple bids and keeping the bidding period open for 10 days before looking at an offer! The need for quick decisions is needed, and many times writing offers that later are either rescinded or don’t make it past the inspection contingency period is happening frequently. There are also situations where the buyers have second thoughts on the increased amounts offered due to the multiple offer news. Sometimes it is better to not bid too high and let the wave go buy (yes, I know…it is spelled “by”). We have gotten good deals on properties this way the last few months.
Don’t give up. To get the best deal, you have to be willing to walk away.
My services are 100% FREE to Utah Home buyers! Feel free to contact me at anytime for questions, or if you’d like to preview a certain property. If you are interested in listing your home or condo on this site, please include details about the property. I am usually able to respond to emails with 1 to 2 hours.
Brandon (801) 999-8084 call/text