If you are thinking of buying a home in Vero Beach this summer, this special edition of the Summer 2021 Buyers Guide, explains Why Listing Prices Are Like an Auction’s Reserve Price, Key Terms to Know in the Homebuying Process, The Path to Homeownership, 5 Tips for Making a Successful Offer, and much more.
Take a look at what is inside in the Home Buyers Guide Winter of 2021 and get it for FREE today!
What is inside the Home Buyers Guide Summer 2021
WHY LISTING PRICES ARE LIKE AN AUCTION’S RESERVE PRICE
For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than what the seller was asking.
According to Lawrence Yun, Chief Economist at The National Association of Realtors (NAR):
“For every listing there are 5.1 offers. Half of the homes are being sold above list price. ”
Due to the low supply of houses for sale, many homes are now being offered in an auction-like atmosphere in which the highest bidder wins the home. In an actual auction, the seller of an item agrees to take the highest bid, and many sellers set a reserve price on the item they’re selling. A reserve price is the minimum amount a seller will accept as the winning bid.
KEY TERMS TO KNOW IN THE HOMEBUYING PROCESS
5 TIPS FOR MAKING A SUCCESSFUL OFFER
Today’s real estate market has high homebuyer interest and low housing inventory. With so many buyers competing for a limited number of houses for sale, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.
- Listen to Your Real Estate Advisor
- Understand Your Finances
- Be Ready to Move Quickly
- Make a Fair Offer
- Be a Flexible Negotiator
Today’s competitive landscape makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.
Get this Summer 2021 Buyers Guide and find out the financial reasons why owning a Vero Beach home of your own makes a lot of sense.
You will find a lot more information in this NEW seasonal edition of the Home Buyers Guide for Summer 2021 by requesting one using the form below. It is FREE.
Home Buyers Guide Request Form:
"*" indicates required fields
[…] The Summer 2021 Buyers Guide explains Why Listing Prices Are Like an Auction’s Reserve Price, Key Terms to Know in the Homebuying Process, The Path to Homeownership, 5 Tips for Making a Successful Offer, and much more. […]