David Deem 714-997-3486 Dave@DeemTeam.com By Jesse Williams The stories are everywhere. Homes that, within days or even hours of going on the market, receive dozens of hyper-competitive offers. Buyers who are not able to waive contingencies, offer well above asking price, or pay in cash are consistently being left behind as either investors or buyers with more courage (or recklessness) are snatching up homes.   Though these things are certainly happening, a new report this week from Zillow indicates that the frequency or severity of this crisis might be exaggerated, as buyers are only submitting two offers on average before purchasing a home and most still go through the traditional process of viewing and inspecting properties.   "Our 2021 survey of buyers found buying a home got more challenging in the past year, but many buyers were ultimately successful in landing a home without taking unnecessary risks," said Manny Garcia, a Zillow population scientist, in a statement. ...

  David Deem 714-997-3486 Dave@DeemTeam.com In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the  National Association of Realtors  (NAR), homes today are: Receiving an average of  3.8 offers Selling in just 17 days Homes selling quickly and receiving multiple offers highlights how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at ...

  David Deem 714-997-3486 Dave@DeemTeam.com I n today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Below are five things to keep in mind when it’s time to make an offer. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As  Freddie Mac   puts it : “This pre-approval allows you to look for a home with  greater confidence and demonstrates to the seller that you are a serious buyer. ” Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home. 2. Be Prepared To Move Fast Speed and t...

  David Deem 714-997-3486 Dave@DeemTeam.com You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer. Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market. With limited housing inventory, there are many more buyers active in the market than there are sellers, and that’s creating some serious competition. According to the...

  David Deem 714-997-3486 Dave@DeemTeam.com When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With  inventory  hovering near record lows and sky-high buyer  demand , a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer. 1. Know Your Numbers Having a complete understanding of your budget and how much house you can  afford  is essential. That’s why you should connect with a lender to get  pre-approved  for a loan early in the homebuying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war. 2. Brace for a Fast Pace Today’s market is dynamic and fast-paced. According to the  Realtors Confidence Index  from the  National Association of Realtors  (NAR), the average home is on th...

  David Deem 714-997-3486 Dave@DeemTeam.com The question many homebuyers are facing this year is , “Why is it so hard to find a house?”  We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The  National Association of Realtors  (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale. Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. Danielle Hale,  Chief Economist at realtor.com , explains: “ The housing market is still relatively under supplied , and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019,  March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February . Despite this week’s gain ...

  David Deem 714-997-3486 Dave@DeemTeam.com Some Highlights Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle. Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers. Let's connect to make sure you're armed for victory in the housing market this season. www.DeemTeam.com

David Deem 714-997-3486 Dave@DeemTeam.com Today’s real estate market has high  buyer interest  and low housing  inventory . With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process. 1. Listen to Your Real Estate Agent A recent  article  from  Freddie Mac  offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things: “Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.” Your real estate professional should be your primary source for answers to the questions you have when you’re...

David Deem 714-997-3486 Dave@DeemTeam.com Don’t Let Buyer Competition Keep You from Purchasing a Home This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why.   According to the most recent  Housing Trends Report  from the  National Association of Home Builders  (NAHB): “The length of time spent searching for a home continues to grow.” The report indicates that  62% of buyers now spend 3 months or more looking for a home,  an increase from 58% one year ago .  A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a h...