Is it easier to get an offer accepted Fall 2021?

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Real Estate

You know (or you should know) that there are WAY more buyers than homes out there on the market. Many reasons - but much of it comes down to sellers not being ready to move. They know homes are selling at historic high prices, but...

  • they need to make some repairs or cosmetic updates to yield the highest price - and it's really hard to schedule contractors right now because everyone's looking to have work done
  • they don't know where they'll go after their home sells. If they're a move-up buyer, they also face the challenge of getting an offer accepted. If they're a down-sizer, they may not have a place picked out as their retirement destination.
  • they need to de-clutter so the home shows its best and that takes time.
  • they are still leery about people walking through their house because of COVID and the highly contagious Delta strain.

Fall 2021 continues in the same mode as earlier in 2021: buyers who are primed to purchase, only to fail to have an offer accepted. What to do?

  • be realistic about your price range. If you plan to spend $600K, limit your search to homes below $550K; it is likely that you will be paying considerably over asking.
  • have a solid mortgage preapproval from a name-brand lender.  This is not a market where a local storefront lender with great rates will help.