Oh my gosh. I have really been neglecting my little old blog lately and the reason is I have been so busy with work! Which leads me to the topic of this post ---MULTIPLE OFFERS in Real Estate transactions!
Ok, I know you've been paying attention to the news about the local and national housing markets and all of the reports are that buyers are buying again and prices are rising and interest rates are at historic lows---well it's all TRUE and in the Austin market we are seeing this manifest in the return of the multiple offer situation.
Multiple offer situations occur most frequently when the market is hot and when GOOD inventory is low, but the number of buyers looking to buy is high.
I represent buyers and sellers in residential real estate transactions and being on the seller side of things and having multiple offers/buyers to choose from is obviously great for my sellers and makes getting their homes sold easier than if we were in a slower market, but multiple offer situations can really be hard on buyers.
As a buyer, when you know that the house you want to make an offer on already has an offer(s) on it, but you have the chance to get yours into the mix as well (without knowing what the other folks have offered) you can imagine it can play some games with your head and deciding how and what to offer can be really tricky!
A big part of my job is advising my clients how to best navigate the murky waters of offer preparation and how to best negotiate that offer and this is made more complicated (on the buyer's side) when you are one of many offers. I can't reveal all of my strategies here, but just know that I have them!
I have been at this awhile and have seen hot markets and cooler ones, but we are on our way back into what I think is going to be a healthy and exciting time in Austin Real Estate.
If you are out there hunting for a house---be prepared, have your financial ducks in a row and be clear about what it is that you want and when you see it---ACT! This is a snooze you lose market in Austin.
I was at a party recently and a really cool gal I was talking to was telling me about this chicken coop she had found on Craigslist. It was beautiful and well made, but she was unsure as to how she would get it into her backyard because her gate access was narrow---but she bought the coop anyway. She said " I always think it's better to err on the side of action". In the end, she totally figured out a way to get the coop into the backyard and I bet she has yard eggs everyday.
Don't miss out on YARD EGGS! Hit me up if you want to talk Real Estate or yard eggs, or whatever!