Fewer homes for sale– if you know how many houses sell per month and how many houses are currently for sale; then it’s Economics 101. The demand is greater than the supply. (if you have been wanting to sell – now is an Excellent time – call one of the 3 Realtors on the Eisenlauer Team) List Price/Sale Price – houses are selling closer to list price , sometimes even over list price. Now is not the time to lowball the seller. February 2016 – sales are 95.9% of original list price. Buyers must be pre-qualified – In the current market – you will not be taken seriously without a pre-qualification letter . “If you don’t provide a pre-approval letter from your lender when you make your offer, you won’t even be considered as a serious buyer. Getting a pre-approval is free; it also helps you determine your budget and will give you an idea of what your monthly payments will be.” says Luke Landis at Movement Mortgage. Days on the Market – homes are on the market for fewer days right now. If you are in the buying process – have your ‘ducks in a row’ and be ready to write an offer with your Realtor – sooner! Right now, the Des Moines median is 78 days on the market. Another consideration – in a buyers market, you may be competing against 2 or more other buyers. Consider ahead of time how you can be competitive.- Price is not the only consideration. Being able to be flexible in your closing date may give you an edge. Some sellers will want ASAP closing – others may need a little more time to move to their next home. Flexibility may be a deciding factor.
- Repairs – Maybe you have skills and time that the sellers don’t. You may be able to negotiate doing some required/requested repairs on the seller’s behalf.
- Personality – Sometimes a seller will choose to sell to someone they like. I am not suggesting that they would discriminate for or against someone because of nationality, religion etc. But consider writing a letter to be presented with your offer. Let the buyer know the things that are especially appealing about the house they have loved. Give them some details about yourself . 95% of people buy (and sell) on emotion and justify logically. Personify yourself!
People of Des Moines are in a unique position. We have more access to political candidates and national media celebrities than anywhere else in the country. The First in the Nation position has an amazing impact on our hometown. And we’re making a good impression! Some things I’ve heard and read.
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