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Buying In A Seller’s Market

Wednesday, February 6, 2019   /   by Holly Northup

Buying In A Seller’s Market

The Austin Board of REALTORS® recently reported that the Austin area housing market has hit a seven-year high.  In addition, other reports have indicated that Austin area home prices are now at or above prices seen before the recession.  This is great news for Austin, Texas!

In fact, Bill Evans, the 2014 president of the Austin Board of REALTORS®, was quoted as saying, “current trends indicate that the upcoming summer selling season could bring one of the most competitive markets Austin has seen.”

However, what does that mean for the 150 people moving to Austin each day?

Well, it suggests that homebuyers must have a strategy before they view the first house on their home buying excursion.

The Bucher Group’s years of expertise in the Austin real estate industry can help area homebuyers accomplish their goals and purchase their dream home for the best price even in a seller’s market.

The top five terms that can make a homebuyer’s offer stand out in a seller’s market include the following.

  1. Submit a pre-approval letter or proof of funds documentation along with the offer.

  2. Offer market value or above for the home.  The Bucher Group can provide a market analysis to discover what comparable homes have sold for within the last 3-6 months to help with pricing decisions.

  3. Remember that homes are often in multiple offer situations, so offer the best offer first with the best terms (i.e. price, closing date, earnest money, etc.).

  4. Include a large earnest money amount.  This signifies serious interest and could be a definitive factor.

  5. Delay buyer possession. Giving the seller extra time to move out of their home after closing may make a difference when they are considering one offer against another.

Remember that time is always of the essence!  Being prepared gives buyers an edge above the competition!

These are just a few of the many recommendations the Bucher Group can provide buyers when purchasing in a seller’s market.  Let the Bucher Group help you find your dream home in Austin!

Contact Kathleen Bucher at 512.794.6644 or KathleenBucher@mac.com for more information about Austin area real estate!
The Bucher Group | Austin Portfolio Real Estate
Kathleen Bucher
1801 S Mopac Drive Expy, Ste. 100
Austin, TX 78746
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Based on information from the Austin Board of REALTORS (alternatively, from ACTRIS) for the period through 2019.® IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data last updated: December 16, 2019 Texas law requires all real estate licensees to provide this link to Information About Brokerage Services:www.trec.state.tx.us/pdf/contracts/op-k.pdf