Community Home Buyer Strategies When Bidding Wars Break Out
Wasn’t it just yesterday that we seemed locked into a classic home buyer’s market in Cascades community Port St. Lucie? Bad economy, bad job numbers, tanked real estate values were all we heard about…until it eventually shifted. Over the past year or so, it’s become a very different landscape. If you’ve been out looking to become a Cascades community 55plus home buyer, it’s possible that you’ve found yourself putting in offers on multiple houses…and also possibly watching from the sidelines as another Cascades Port St. Lucie home buyer walked away with a deal. If this isn’t a true seller’s market, to you the difference may not be apparent.
In any case, when a prospective home buyer in Cascades community Port St. Lucie finds themselves vying for one of the plum homes that are now appearing in this fall’s Cascades Port St. Lucie listings, there’s no need to passively watch as others get the nod. If you are sure of the value of the property you are going for, there are straightforward tactics for improving your chances of winning the day:
– Offering at or above list price is the time-tested way to give you the best shot of getting your contract accepted over bidders who offer less than list. Real estate prices are again on the rise, increasing your likelihood of being able to recoup the extra money if you decide to sell several years down the road. Look at the comps with your agent to determine what an aggressive—yet realistic price—will be.
– Ask your real estate agent what the recommended earnest money amount would be; then double or triple that deposit amount. It’s a sure way to signal that you’re a serious and financially able home buyer. This tactic has the advantage that it doesn’t really cost you anything in the long run, assuming you hold up your end of the contract. It is a way to stand out from other Cascades 55plus home buyers without actually spending more.
– In a buyer’s market, it’s almost expected to ask for add-ons like fixing a staircase or leaving the swing set. But in a seller’s market, you can beat the competition by not asking for extras beyond what is offered in the listing. Home sellers may be fully occupied with many outside details (like looking for their own next home!) and often assign high value to an offer that looks uncomplicated.
– Along the same lines, another way to set yourself apart from every other home buyer is to offer to give the seller more than the usual time to move out of their house. Many other bidders won’t think of this—but it can make the deal if the sellers are having to cope with difficult deadlines for their own move. Above all, don’t let yourself get discouraged. The right house is out there, and you will get an offer accepted! Particularly in a seller’s market, any Cascades Port St. Lucie home buyer will be rewarded by just remaining patient and cool-headed. First step if you will be looking to buy this fall: contact us today to get started!
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About the Author: Millie Gil has been a successful REALTOR® servicing the Florida market for over 25 years. Millie is Broker-Owner of Bold Real Estate Group located in Stuart. A Broker Agency committed to concierge personalized service for discerning Buyers and Sellers of Real Estate properties. This commitment level has helped build a remarkable track record of delivering results. Doing Real Estate Relocation is also a passion, by assisting families with every residential Real Estate need. Millie is fluent in English and Spanish with a strong network of Real Estate Professionals Worldwide. Other real estate blog posts by Millie Gil
Port St. Lucie Homes for sale are located in St. Lucie County, Florida. Find condos in Port St. Lucie for sale with data from the Multiple Listing Service (MLS). A Florida Buyer REALTOR® can assist you in your search for Port St. Lucie condominiums, single family homes, townhomes, attached villas.
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