When dealing with the Tigard, Oregon, real estate market lately, many buyers are finding that getting your offer isn’t always as easy as putting in a full price offer. You see, what is happening lately, despite it being somewhat of a buyer’s market still, with prices still falling.
Why
is this happening with
full price offers being turned down? There are many
reasons, but one of
the
main ones is people are being outbid. Yes, there are multi-offer
situations
going on everyday in this home market on homes under $350,000. Now,
that
doesn’t mean every home is getting multi-offers, but the well priced
ones
certainly are and with multi-offers comes bidding wars.
Now,
here is the unusual thing with these properties. The
buyers are seeing
the
properties and aren’t putting bids in for weeks, hoping for the price
to come
down and when they don’t, you see many people who were thinking the
same thing,
and they all put their offers in at that same time. With that, people
are
finding that getting your offer accepted isn’t always as easy as
putting a full
price offer in.
When two or more people
put offers in on the same house, someone has to
walk
away disappointed that they didn’t get the home. There
are many ways to
avoid
this. The first being if you see a house you like, don’t wait, put the
offer in
immediately. If you see someone at the house, don’t act like you like
the home,
walk out saying, “I like the other one better”, even if there wasn’t
another
one. (This may get them to delay putting their offer in, if they think
there is
no competition for the home.)
Make sure you have all
your paperwork in order with your mortgage
lender. Do
you have a pre-approval? Do you have the loan already started and can
you close
quickly? Some sellers maybe happy taking a lesser amount for their home
if they
know you can close quickly. They could be waiting to buy their dream
home and
it is contingent upon theirs selling. A quick close could mean the
difference
between them getting their new home and not!
So, don’t be discouraged
if you don’t get your dream home if you
offered full
price, but remember if you see a home you like, don’t wait, because
even in
this market, the next person may not!
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
©2009 Todd Clark - Tigard Oregon Real Estate and more: Getting your offer accepted isn’t always as easy as putting in a full price offer
