Q: I’ve lost several bidding wars for homes. Could you provide a few tips to help me win in a competitive situation? Falling in love with a home only to lose it in a bidding war is certainly disappointing. But going through it repeatedly in today’s ultracompetitive housing market can be devastating. I recently experienced similarly painful losses. Last year, my partner and I lost three bidding wars on homes we believed were The One before we succeeded in closing on our home in November in the New York City suburbs. What I learned was that cash may be king, but “terms matter too,” as my real estate agent would often say. It’s a seller’s market right now because the housing shortage has hit a crisis point. There just aren’t enough homes for the legions of folks seeking to become homeowners, relocate, trade up into larger homes, or downsize into smaller ones. That supply and demand imbalance has allowed prices to swell to epic proportions. It’s a battlefield out there for buyers with sellers calling most—if not all—of the shots. Cash is king in today’s hot real estate market It’s true that in most bidding wars, the highest offer will… Read full this story
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On the House: How Can I Win a Home Bidding War in This Crazy, Competitive Real Estate Market? have 352 words, post on www.sfgate.com at May 7, 2022. This is cached page on Konitono. If you want remove this page, please contact us.