Temecula/Murrieta - Bidding Wars are Back... Be Prepared!!!
Stunned Home Buyers Find the Bidding Wars are Back...Â The Writing was on the wall as inventory has tightened and buying conditions are ripe with all advantages in their prime for home Buying!!! Home Buyers coming from out of the area are always surprised when they come here thinking there tons of homes just waiting for them to come in and low ball prices.Â There is strength and power in knowledge... so use it to your advantage!!!Â
What this means to the Home Buyer?Â Don't get taken by surprise like the little birdy here (LOL). Â You are going to have to be at your best... meaning if a house goes on the market... Do NOT drag your feet to go see it... it may be gone. If you find a home you love... you better think your offer through to present in best light if you Â plan to winning bidder... low balling will knock you right out of the park for chances on purchasing that home!!! And to the Cash buyers... you do not always have an advantage.... but that is a whole other blog because there is alot to say about that. Asking price does NOT mean selling price (see my other blogs for more details about that). Sometimes it is higher and sometimes it is lower.... depends on market value.. PERIOD!!!
What does this mean to Home Sellers? If you have been thinking about selling and have a little equity in your home... this is a great time for you to put your house on the market. Remember your home still have to comp from the appraiser unless you get a cash buyer that waves the appraisal but numbers will start reflecting a little higher value. You still are competing with short sales and their numbers so have a Realtor review your area so you can have a better comprehension where you stand in the pricing arena. The good news is... people are very frustrated with short sales so you do have an advantage that some are willing to pay for!!!