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Published July 15, 2020
"Smart Ways To Ensure You Win Multiple Offers When Buying A Home"
There is one simple way to ensure you win multiple offers when buying a home in North Carolina. You MUST have the perfect dynamic duo - a knowledgeable buyers agent paired with an experienced mortgage lender.
Let’s dig in further to find out why this will be so critical.
As most remember, back in 2007-2009 a lot of real estate markets cooled off due to a historical recession and credit crisis. This allowed home buyers ample opportunity to purchase their dream home with minimal competition. Fast forward to 2020 where businesses are booming, the stock market is up, investors are seeing high returns, and even amid a new pandemic like COVD-19, most real estate markets have continued to skyrocket.
According to TMLS data, there has been a 6.6% increase in under contract sales compared to this time last year. Meaning there are more homes being purchased around the Triangle region than back in 2019! This can be partially attributed to the droves of people moving to the Raleigh/Durham/Chapel Hill area due to this area being one of the fastest-growing places in the country. Not to mention having the recognition of being North Carolina's capitol, this is a phenomenal place to settle down and plant some roots!
What about housing inventory you might ask compared to home sales? According to TMLS, housing inventory has changed from having 9,043 properties for sale in 2019 to now only having around 6,537. How will that impact home buyers in 2020 and 2021? They are almost guaranteed to deal with multiple offer scenarios when putting in an offer on ‘the one’. Still don’t believe us? A recent study done by NAR suggested that for every home on the market there are 9 other potential buyers that will be interested in that same home!
No matter who you choose to work with when buying or selling real estate, just remember it is one of the biggest financial transactions you will have. Partnering with an experienced local agent and lender will e the difference between you winning and losing your dream home. Whenever you find yourself ready to start the conversation, be sure to interview this experienced dynamic duo to walk you through the entire transaction. Be sure to add Dana Ben Realty Group with Keller Williams, and The Sherry Riano Team at First Heritage Mortgage on your interview schedule! Our proven systems and industry knowledge will arm you with the ultimate advantage against other home buyers. All you need to do is reach out using the contact information below. We’d love to connect!
The Sherry Riano Team
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