Given how competitive our current market is, today I wanted to lay out the three biggest challenges buyers face and how they can overcome them.
What are the three biggest challenges buyers face when it comes to buying a home in our current market? Today I’m joined by Anthony Howard, one of our top buyer’s agents, to answer that question.
The first challenge is writing an offer that gets accepted. The impulse for most buyers is to try to get some kind of discounted price or lowball their initial offer, which is understandable. However, the average list-to-sales price ratio here in the Fairfax County area is 98.2%, which means our market is extremely competitive and you should always write a strong offer.
The second challenge is adjusting your expectations. Buyers can have very specific needs when it comes to their new home, and this can lead to having a hard time adjusting to what the market actually has available. Most of the time, you will have to either adjust the type of home that you want or alter your preferred price. It’s also possible that you will have to adjust your preferred living location.
The third and final challenge is navigating and winning a multiple offer situation. This correlates strongly with the first challenge in that the key to coming out on top is writing a strong, full-priced offer right out of the gate.
If you’re in the market to buy a home, sell a home, or invest in other real estate, feel free to give us a call or email me directly. We’d be glad to help!