|Real Estate Ruminations...

Competing in Multiple Offers in Seattle

The Seattle real estate market is still surprisingly hot, with inventory lagging typical standards.  If you’re out shopping for a home, my best advice is to shop in a lower range than what your maximum amount of purchase is because nearly all multiple offers lead to a sales price above the asking price, and if you’re shopping at the top of your price range you’ll be frustrated with the outcome.  Secondly, think about being imaginative and flexible in terms of what you can do to make your offer stand out to the seller.  The most important thing to think about (at least as a realtor, it is something near the top of my list) is what will the resale value be of the home and what price can you afford to pay now and be comfortable with later when you’re ready to sell and move.  Location plays a big role in value, as does buyer appeal, condition, and the feel of the neighborhood.  If you’re looking on-line at homes, get out in person and walk the neighborhoods, attend open houses, and talk to your realtor.  The perspective of a professional can be invaluable in a competitive real estate market, such as what we’re experiencing now.  I put up a sold sign on a home with four offers & have happy buyers.photowithsold strip

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