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Dianne Hicks' Blog

By Dianne Hicks (951) 514-5709 | Agent in Temecula, CA

Temecula/Murrieta - Bidding Wars are Back... Be Prepared!!!

Temecula/Murrieta - Bidding Wars are Back... Be Prepared!!!


Stunned Home Buyers Find the Bidding Wars are Back... 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. There is strength and power in knowledge... so use it to your advantage!!! 

What this means to the Home Buyer?  Don't get taken by surprise like the little birdy here (LOL).  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  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!!!

Click Here for the recent article in the Wall Street Journal 





Dianne Hicks
HomeSmart Real Estate
email
 
di4homes@yahoo.com 
phone (951) 514-5709

Home Is... Where The Heart Is... ~~♥~~



Ready to Buy, Sell or Relocate to Temecula Area.... Our Team is here to help...we are just a phone call or email away.


Comments

By Jodi Bettarel,  Wed May 16 2012, 19:42
Yes, Dianne this is true inour area. With the limited amount of inventory especially. If a buyer finds a home that fits their needs it is wise to put their best foot forward to get the home. Then it is our job to do our best, do our homework as well so that they are able to have the opportunity. It is a great time to purchase, but a low ball offer is often not worth the paper it is written on. As always thank you for the wonderful information.
By Dianne Hicks (951) 514-5709,  Sun Oct 28 2012, 08:14
Months later... still tight so if you really like a home... they shouldn't drag their feet or it could be gone before they decide to put offer!!!
By Pat and Steve Pribisko,  Sun Oct 28 2012, 09:15
In Northeast OH, we have had buyers in a number of multiple bid situations. We've one some and lost some. These were for houses that were staged well and priced well.

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