{"id":2646,"date":"2022-04-25T10:00:54","date_gmt":"2022-04-25T10:00:54","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2022\/04\/is-it-enough-to-offer-asking-price-in-todays-housing-market\/"},"modified":"2022-04-25T10:00:54","modified_gmt":"2022-04-25T10:00:54","slug":"is-it-enough-to-offer-asking-price-in-todays-housing-market","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2022\/04\/25\/is-it-enough-to-offer-asking-price-in-todays-housing-market\/","title":{"rendered":"Is It Enough To Offer Asking Price in Today\u2019s Housing Market?"},"content":{"rendered":"

\n

\n

$\"Is$ <\/p>\n

If you\u2019re planning to buy a home<\/a> this season, you\u2019re probably thinking about what you\u2019ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer\u2019s bid and the home\u2019s initial asking price.<\/span><\/p>\n

In today\u2019s real estate market, buyers shouldn\u2019t shop for a home with the same expectations<\/strong>.<\/p>\n

Things Are Different Today<\/strong><\/h4>\nToday\u2019s housing market is anything but normal. According to the National Association of Realtors<\/em><\/a> (NAR), the average home that\u2019s sold today:<\/p>\n
\n
Receives 4.8 offers<\/li>\n
Sells in just 17 days<\/li>\n<\/ul>\n
Homes selling quickly and receiving multiple offers<\/a> shows how competitive the housing market<\/a> is for buyers right now. This is because there are more buyers on the market than homes for sale. When the number of homes<\/a> available can\u2019t keep up with demand, homes often sell for more than the asking price.<\/p>\n
How Does This Impact You When It\u2019s Time To Submit an Offer?<\/strong><\/h4>\nMarket conditions should help guide your decisions throughout the process. Today, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it\u2019s time to submit an offer<\/a>, but you should also use that information as you\u2019re searching for homes too. After all, you don\u2019t want to fall in love with a home that ultimately sells for a price higher than what you\u2019ve budgeted<\/a> for.<\/p>\n
The Mortgage Reports<\/em> has advice<\/a> if you\u2019re looking to purchase a home in a competitive market. The article encourages you to be realistic with your housing search<\/a>, saying:<\/p>\n
\n
\u201cThe best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer<\/strong> \u2014 and when to walk away. This will make negotiations a lot easier.\u201d<\/em><\/p>\n<\/blockquote>\n
Of course, when you\u2019ve found your dream home, you\u2019ll want to do everything you can to submit your best offer up front and win a potential bidding war. Knowing the current market is key to crafting a winning offer. That\u2019s where working with an expert real estate advisor<\/a> becomes critical.<\/p>\n
A real estate professional will draw from their experience and expert-level knowledge of today\u2019s housing market throughout the process. They\u2019ll also balance conditions in your area to make sure your offer stands out above the rest.<\/p>\n
Bottom Line<\/strong><\/h3>\n
Understanding how to approach the asking price of a home and what\u2019s happening in today\u2019s real estate market are critical for buyers. Let\u2019s connect so we can work together to create a winning plan for you.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
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