Boston area real estate is in one of the most competitive markets ever. How can you accept your offer when your inventory is low and potential buyers are high? “What we found first and foremost is that cash is very much king in this market. If you are able to write anything – cash offer, this is very often the most successful way to find the house that you want “said Cory Hopkins, managing editor of Zillow Research. Zillow Research reveals the results of a survey of 376 leading real estate agents around the country to find the trends and the winning strategies that are winning bidding wars in this highly competitive residential real estate market. What is When, like most buyers, you can’t afford to pay cash for a home? “There are ways to accomplish this. Doing business creatively and partnering with a talented agent. This can include things including increasing your down payment just a little, “Hopkins said. Another tip, get pre-approved for a loan that isn’t just pre-qualified.” It’s a slightly more rigorous process, but it pays off when sellers sell you know you can afford their home, “Hopkins said.” If you look at the rising average price and falling average market days, that’s a real indication of the strength of the market, “said Deborah Hauser, executive director of Massachusetts Local Brokers and Brokers Say the market continues to be competitive and remains a seller’s market, but there are some indicators that could benefit buyers. “It’s getting better, especially in the last few weeks. We notice that it is improving. There’s a little more inventory, there are a few fewer buyers, so things are getting better inch by inch, ”said Anthony Lamacchia of Lamacchia Realty.
READ, mass. –
Boston area real estate is in one of the most competitive markets ever. With low inventory and many potential buyers, how do you get your offer accepted?
“What we found first and foremost is that cash is very much king in this market. If you are able to write a cash offer, it is very often the most successful way to get home that you are looking for “Said Cory Hopkins, managing editor of Zillow Research.
Zillow Research reveals the results of a survey of 376 leading real estate agents across the country to identify the trends and successful strategies that are winning bidding wars in this highly competitive residential real estate market.
What if, like most buyers, you can’t afford to pay for a home in cash?
“There are ways to get creative with deals and work with a talented agent, including increasing the down payment,” said Hopkins.
Another tip: get pre-approved for a loan, not just a prequalification.
“It’s a tighter process, but it will pay off when sellers know you can afford their home,” said Hopkins.
“When you look at the rising average price and falling average market days, this is a real indication of the strength of the market,” said Deborah Hauser, Managing Director of Senne Real Estate.
Local agents and brokers in Massachusetts say the market continues to be competitive and remains a sellers’ market, but there are some indicators that could benefit buyers.
“It’s getting better, especially in the last few weeks. We’re noticing that it’s improving. There’s a little more inventory, there are a few fewer buyers, so things are getting better inch by inch,” said Anthony Lamacchia of Lamacchia Realty.
