Homebuying today: Fewer homes, higher prices, and faster deals

This article comes from https://www.curbed.com/ by Patrick Sisson that  really cuts to the chase of purchasing homes today. It can difficult to get a home and being ready to buy really helps you get your perfect home.

"Tired of looking at homes and losing bidding wars, buyers are increasingly aggressive and impatient as prices continue to rise and inventories shrink. Prospective buyers constantly ring doorbells, regardless of whether someone else is in the middle of a showing."
"“It’s the most competitive market I’ve ever seen,” Cesario says. “We’re all doing what we can for our buyers and our sellers.”"

The key to success in this real estate market is being ready to buy with financing or cash and having a real estate agent that monitors available properties daily. I personally look at all the new listings and other list daily for my active clients. I look around 300+ homes a day for a client and they get homes. That is what it takes to be successful in this market!!!

"It’s about supply, or the lack thereof, says Jonathan Miller, president and CEO of Miller Samuel, a New York City-based real estate appraisal and consulting firm. With the exception of the high-end housing market, where the bulk of new construction activity has been concentrated, a lack of new construction in most of the country has created a “blistering market demand.”"

"“This is not the sign of a healthy housing market,” says Miller. “We’re still in the hangover phase of the financial crisis. It’s all about affordability. Inventory isn’t keeping up with population growth and demand, and that’s exacerbated by interest rates trending up modestly. There’s an urgency. If you were thinking of buying, there’s a sense that you want to beat the rates.”"

Wages are going up and people need real estate. New builds will take another 4-5 years to catch up with demand and prices should be going up in most areas. Recently I comped a home that was around some new builds that had resold and the prices went up a bit because of that. Demand for real estate should be high for a while.

Don't let real estate stress you out let me handle the details. Call me I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona

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