Home buyers in a seller’s market seem to be living in a sea of hype. It’s the product of a hot market.
Yesterday, I saw an advertisement from a major real estate web platform hawking a “listing alert” to help you find the “perfect home” at the price they wanted. The spin sounded great. The home buyer in the commercial said that by signing up for listing alerts her family was able to snatch up the perfect home below market value in the neighborhood they wanted. The implication was that this allowed them to get a foot in the door fast and first! What does this imply?
WOW! That’s quite an assumption. But there it is. They are suggesting that this will get your foot in the door before other competing home buyers know about this bargain. Just one problem: Almost every buyer online or with an agent is signed up for listing alerts.
If you are signed up for such a list, you are one of many, if not hundreds of potential buyers who will be informed “first” all at the same time!
Yep! The price goes up. They listing agent or seller may raise the price or they will go to highest and best and require all interested buyers to put in their best offer by a certain day and time. Underpriced homes don’t stay that way in this type of market.
There is no secret stash of bargains and if there is one lurking out there that is truly underpriced, it is brought out into the open the second it goes online. When buyers contact me about an amazing bargain that just came online, I’ve learned to skeptical. There is always a catch. Either the home needs extensive work or it was deliberately underpriced to start a bidding war. Whatever the reason, in this type of market, an underpriced home is generally being swamped with buyers in very short order.
Housing prices are going up. If you want to know the reasons why, you can see my post on why the Westchester housing market is on its way up. The bottom line is that I don’t see that changing any time soon.
With higher prices and a more competitive market, we tend to get a lot of hype about inside tracks and getting what you want for less. Listing alerts are important so home buyers know what’s out there when it hits the market. But that’s all its good for. The rest is just hype.
If you are truly serious about purchasing a home, feel free to talk to me. I’m a no-hype, down-to-earth agent that helps home buyers find a home at the best price and terms the current market will bear. You can text, call, or email. I have nothing fancy to offer other than down to earth information and realistic methods that have stood the test of time!
Rising prices are only bad while you are in the process of buying. Once you are a home owner, its all good!
© 2017 – RGHicks – https://thewestchesterview.com – All rights reserved.
Please feel free to contact me anytime to request additional information or to set up an appointment so we can explore your listing or purchasing needs. I am easy to reach by phone, text or email. Or, if you just want to continue your search online, the links below will help you get started.