UPDATED March 18, 2016--NOTE: ONLY 199 Single Family Homes for Sale in Lawrence KS Equals Extreme Sellers' Market in some price ranges!!!
Originally published 12/08/2014:
ONLY 241 Single Family Homes for Sale in Lawrence KS Equals Extreme Sellers' Market in some price ranges!!!
Ever wonder why houses are going under contract so quickly?
An extreme sellers' market exists when less than 3 months' worth of houses are listed for sale.
A sellers' market exists when more than 3 months but less than 6 months' worth of houses are listed for sale.
A buyers' market exists when more than 6 months but less than 9 months' worth of houses are listed for sale.
An extreme buyers' market exists when more than 9 months' worth of houses are listed for sale.
What happens when an extreme sellers' market exists? Asking prices increase. Multiple offers and bidding wars occur. Houses go under contract the same day they come on the market. SOLD prices end up higher than the asking price.
What should the homes for sale buyer do in an extreme sellers' market?
1) Get pre-approved in advance of looking for houses and have the pre-approval letter in hand or a proof of funds letter if paying cash. Why is this essential? Home buyers who have their letter in hand and can present it when submitting an offer will have their offer accepted more readily than home buyers who do not have a pre-approval letter or proof of funds letter to submit with their offer. Contact Taylor Nedrow, Pulaski Bank, NMLS#584283, 913.579.5938 cell for your pre-approval letter today.
2) Get email alerts set up from all three MLS's that list properties for sale for Lawrence. Why is this essential? The home buyers receiving these alerts will be notified the instant a property matching their criteria is entered on the MLS so they can schedule a showing that same day and submit an offer immediately if it is the house they want. Home buyers without email alerts will not find out about new properties for sale sometimes until weeks after it came on the market and went under contract. Contact Rob Lang, At Home Kansas, 785-393-2274 today with your customized email alerts so you do not miss out.
3) Ask for more information about properties that interest you. Why is this essential? Knowing if the property is in a flood plain, if there are detrimental factors a home buyer should know about that would hinder the re-sale of a property in a few years when the buyer prepares to move, knowing if the house is the most expensive or least expensive property on the block and probable reason(s) why, how much the seller paid for the house and when, how much the seller owes on their loan, and more are all great facts to help home buyers make the right decision when purchasing homes for sale in Lawrence Kansas.
4) Attend a FREE, no obligation home buyer workshop to have a customized Q&A session with Rob Lang by texting or calling him at 785-393-2274.
5) Ask Rob Lang, At Home Kansas, 785-393-2274, for an absoption analysis for the type of house you are looking to purchase so you will know how many properties have SOLD like what you are looking for in the past year.
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