This article comes from https://clevelandmagazine.com and it is talking about why real estate in Cleveland is still very hot and selling very quickly. Before I go over that let's look at my listing and purchases this week alone.
This week I had 4 listings under for full price and one was cash of over $200,000. At an inspection yesterday the buyer actually was telling their inspector what was being replaced by the seller. They did not want anything to interfere with the purchase of the property.
Even rental properties which they do not even mention in this article are extremely hot. When I add a rental listing to the MLS I start getting a lot of calls to see the property. Doing virtual tours on every rental property allows me to text the potential tenant and let them see the property before they even go to it.
I was sitting with some homeowners that thought their property was worth $30,000 less than it was. When I told them what I think they could get they were shocked and one of them did not believe they would get that price. It was under contract in 1 day for full price.
Back to the article the pent up demand for post covid real estate decisions are being made while interest rates are low. Real estate is going up in price, but the inventory is so low that some agents are giving up on even locating a property.
Stress is high for both the Realtor and their clients.
"Buyers who want to get into a home are coming to the table with the strongest offers possible, ready for closing costs, and they’re even willing to go in without a home inspection in some cases."
As long as the buyer makes that decision and still gets an inspection to know what they are getting into, the strategy is a good way to get ahead of other offers. Anything a buyer's agent can do that is less contingency is a great idea as long as the buyer understands what they are getting into.
Buying, Selling, or leasing real estate it is important to use a seasoned agent that has been around for a while. I have been a Realtor for 21 years and have seen a lot of markets.
Call 216-703-5740 Fathom Realty or text "info" to +12164555264
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