In most area's of the Temecula, Murrieta Valley and the rest of Southwest Riverside County we are in a very strong sellers market. This is because there are very low mortgage rates and a very strong buyer demand with very little inventory available. In some areas homes are selling for above list price. If you want to know where we publish a monthly market report where you can see first hand. Click here to download or call or email us and we can send it directly to you.
It has become very important to write a great offer to appeal to the seller. The days of asking for closings costs to be paid by the seller are long gone. Todays buyer needs to be persistence, have faith, and be very flexibility to get the best house. As a listing agent here in Temecula and all over southwest riverside county I'm seeing multiple offers. With the under $300k market being absolutely crazy. On one of my listings in this market area I had 20 offers within three days of the home being on the market and most of them being well over the list price. Its easy for today's buyer to get discouraged so here are a couple of tips on how you can position your self to win the battle of the house.
1. Separate the emotion from the economic reality. Searching for a home is a very emotional experience. From an offer acceptance standpoint home buying is purely economic, and right now it's low supply and high demand. So if you remember your old high school economics low supply with high demand drives prices up........... So even if you have 850 FICO scores and are highly over qualified it does not necessarily mean you win automatically. Once you submit your highest and best offer you now get to sit back and wait. You wait for the seller to get tired of collecting offers and then sitting down to pick one.
2. You really should remove "perfect home" from your thought process. Your in a highly competitive market with very low inventory. So low that its about 30% of what is considered to be a healthy supply of homes with an over supply of very well qualified, determined buyers.
3. In todays market the mind set should be that its a good win to just get the home and not getting the perfect home at an absolute steal..........
4. Figure out ahead of time what you can and can't do. Work closely with your lender and know your ideal numbers. Be prepared to act quickly once you find a home that comes close to your requirements.
5. If you are handy or have the resources you might want to consider the home that no body wants because it needs some work. By taking on a lower priced home that needs some work you then get to make it your ideal home.
6. After submitting 4 to 6 good offers with no results you may need to expand your criteria for your perfect home or perfect location. Take a look at the neighboring area to where you are looking and seeing if you can get close to what or where you want.
7. DON'T GIVE UP THE BATTLE! If you are a little bit more open minded, and stay persistent, you will win the battle of the house!
About Team Olsewski:
Tom Olsewski and his team as part of the Temecula Keller Williams office are residential specialists helping anyone looking to sell, buy, or invest in residential real estate in Temecula, Murrieta, and other South West Riverside County communities. Team Olsewski also has years of experience helping homeowners avoid foreclosure and understanding the options available to them other then foreclosure. Whether you are looking for the perfect home to suit your lifestyle or want to sell your home quickly and at the highest value, Team Olsewski is the real estate Team for you. Working with you as a team, they will help you achieve your long-term and short-term goals. Team Olsewski brings the full range of their talents to make the most out of your largest investment, your home. Contact them today! For more information about Tom and Team Olsewski go to (www.teamolsewski.com )
