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In the Boise, Idaho, and Treasure Valley area, we are currently in a seller’s market, which means if you’re looking to buy you’ll need to know how to get your offer to stand out and get accepted. In this post, we will explain three tips we have learned and use every day to help our buyer's get their offers accepted. If you are thinking of buying a home in the Boise, Idaho area, you will want to make sure you do everything you can to ensure your offer stands out to have a chance at securing that new home.
What is a seller's market?
In a buyer’s market, the demand for houses is low, inventory (homes for sale) is high, list times are longer, fewer and lower offers are put on homes, and price reductions are common.
In a seller’s market, demand for housing is high, the supply of homes is low, list times are shorter, multiple offers are common, and homes may sell at or above their list price.
The first step in snagging your perfect home in a seller’s market is to realize that we are indeed in a seller’s market, which means sellers have the upper hand. Your approach to making an offer and getting it accepted must be unique if you want to stand out to win a multiple offer situation.
Your approach to making an offer and getting it accepted must be unique if you want to stand out and win a multiple offer situation.”
You also need to make sure you hire the right agent. In this market, the right agent can make all the difference in your offer getting accepted or losing out on your dream home. The right agent should have the right systems and technology in place to ensure you get listings the moment they pop up on the market as well as direct you to homes that may not be on the market using their networking connections. They should also be able to respond quickly when that perfect home does pop up and help you write up the most attractive offer.
Finally, you need to have patience. It’s easy to lose heart and get frustrated when you miss out on a good home. Some buyers even give up and continue to rent instead. However, although we are in a seller’s market there are still plenty of advantages for homebuyers. For example, low interest rates are keeping monthly payments more affordable than rent in many cases. Interest rates are on the rise, though, so waiting to buy could end up costing you your dream home. Also, as home values increase, those who purchase a home can benefit from the equity the market is creating for them.
If you’re looking to purchase a home our team would love to assist you. Our agents are experienced, full time, and hardworking. If you have any questions don’t hesitate to give us a call or send us an email. We look forward to working with you.
Click here to learn more about how mortgage guidelines have changed allowing more buyers to qualify for homes loans!
If you are not thinking of selling or buying a home but own a house in our area, the value of your home has likely improved since you purchased it and is predicted to continue to see improvement which is great news. You can always use our INSTANT value check tool to see what your home is worth in today's market by clicking here:
What is my home worth in today's market?
Call our team today at 208-501-8200 to get answers to your questions.
Click this link for a complete breakdown of the market statistics
You can also start browsing for all brand new homes in Boise, Idaho and the surrounding areas by clicking here: Yes, show me new homes for sale!