Is It Enough To Offer Asking Price in Today’s Housing Market?

Is It Enough To Offer Asking Price in Today’s Housing Market?

When shopping for a home this season, you may be wondering how much less than the asking price can I offer? In past years it was common to try and find out if your proposal would still get accepted. The buyer & seller would then negotiate on an agreed-upon revised price that fell somewhere between my bid and their initial demand/offering prices -- but not anymore!

In today’s real estate market, buyers shouldn’t shop for a home with the same expectations.

Things Are Different Today

Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today:

  • Receives 4.8 offers
  • Sells in just 17 days

The housing market is so competitive right now that homes are selling quickly and receiving multiple offers. This means there's more demand than supply, which causes prices to go up when houses aren't able to capture all of their desired buyers due to the lack in number available for purchase or even just slowly climbing over time as competition increases between other potential customers who want what you have at your asking price

How Does This Impact You When It’s Time To Submit an Offer?

Market conditions are always changing and it's important to know what they will be like when you're ready to buy a home. Today, the asking price for homes often becomes their floor during negotiations rather than ceiling; knowing this can help guide your decision-making process as well! You don't want to get excited about finding "the perfect house" only to find out that later on downline someone else bought at an even higher price because yours was too cheap in comparison (plus there might have already been competition).

Smart buyers should be realistic when shopping for a new home in an intensely competitive market. The Mortgage Reports has the advice to help you find your perfect place, saying:

The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier.”

Now that you’ve found the perfect home, it's time to make an offer. But how do we know if our competitors are on similar pages? Working with a real estate advisor will give us the up-to-date information about what homes have been sold and at what price per square foot in order for making the best decision possible!

When you’re looking to buy or sell your home, there is no better expert than a real estate professional. With years of experience under their belt and an intimate knowledge of today's housing markets across all areas in which they work - from pricing properties right down to drawing up contracts on houses worth thousands upon thousand dollars- these professionals can help make sure that yours stands out above the rest!

Bottom Line

With the real estate market being what it is, knowing how to approach asking prices and understanding today's trends in home buying are critical for buyers. Let me connect with you so we can work together on finding your perfect property!

-Suneet Agarwal

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