Home buyers in Madison
Home buyers in Madison are learning quickly when they start their home search. We are hearing it time and time again. 40 buyers coming to an open house, multiple offers. It is like 2003 again with a plentiful supply of buyers and a shortage of listings in the first time buyer range up to around $250,000.
We have however, been predicting for a while that home buyers need to act NOW.
In talking to colleagues, we are finding home buyers in Madison are lapping up the low interest rates to buy homes at record affordability. Yet they are soon finding that they are up against fierce competition for the best homes.
Talking to buyers, it is often difficult to convince them this is actually happening after 6 years or so of stagnant home sales and falling home prices. Sometimes buyers learn the hard way, missing out on their dream home because another buyer acted quicker and bolder.
Home buyers in Madison, listen to your Realtor/home consultant. (I know, that is a little difficult to grasp sometimes)
If you don't trust your Realtor, maybe you have the wrong one, find one you trust. Your Realtor should be on your side helping you decide on the best home and guideing you on the home buying process, the market and the property.
Please note your Realtor does not know when another offer is coming in, and certainly is not a party to the offer details, so your decision will be based on a combination of experience and best guess. If you have found that dream home you need to be BOLD. Write an offer to make sure that home becomes yours. It may mean you pay a little more for the home, but in the large picture, better to pay a little more and have the home than less and lose it.