The 2013 real estate market in Austin was really HOT! You don't believe it? This house had 7 offers above asking price in the first 24 hours the week before Christmas.
For buyers to succeed in such a market they may want to get creative. Only one contract is going to be accepted and you will want it to be yours. In July 2013 Trulia conducted a survey with some surprising results.
25% of buyers said they would offer to pay the sellers closing costs
25% said they would be willing to offer 1 - 5% above asking price
17% said they would write a letter to the seller
12% said they would borrow money from family to make a 20% down-payment
9% said they would write an offer for 6 - 10% above asking price
8% said they would remove all contingencies
4% said they would bid more than 10% above asking price
What should you do? Listen to your REALTOR. Markets change from month-to-month and your REALTOR has a more up to date vision of what's happening now than you or your friends.
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