#HousingMarketUpdate

How to make an offer in today's market. Well, there's a couple strategies that we employ with our clients in order to take advantage of today's market.

So the first strategy, looking at comparable home sales. So what is that? You're looking at recent comparable sales. You're adjusting to today's market conditions.

The next piece you're looking at is days on market. Days on market is an indication of how long the property has sat on the market without getting sold. Look at the history of the property. Very often, we see realtors come on the market at the price X, they don't sell, and a month later, they cancel the property, and then they relist it, so they pop it as though it looks like a new listing. The longer the property has been on the market typically gives you a bigger leverage in terms of negotiating.
The next step you're looking at is speaking with the agent in order to determine the seller's motivation. Once you understand this, you're going to structure your offer in order to benefit yourself, as it gives you an understanding and speaking to the other side of what their true motivation is. Is it price? Is it the closing date? Must they get a quick close? Once you understand what their true motivation is, It's easy to structure an offer to your benefit as the buyer.

Making an offer on a home can be a daunting task, especially in today's market. It's important to remember that you are not alone in the process - your agent is there to help you every step of the way. Here are a few things to keep in mind when making an offer:

- Pay attention to market conditions. Are comparable homes selling quickly or sitting on the market for months? This will give you a good idea of what to expect in terms of days on market.

- Don't be afraid to be aggressive with your offer. In a sellers' market, you may need to offer above asking price to compete with other buyers.

- Remember that the seller may be attached to the home, so try to be respectful in your offer. Taking the time to learn about the home's history can be helpful in this regard.