2015 is a bold new frontier for Triangle Real Estate. Inventory (i.e. available, on-market properties) is incredibly low and buyers are competing for homes. Both Dad and I have been busier than cats in a mouse house since the market began rebounding. We love summer! The warm weather brings out the warmth in people and apparently in the real estate market, as well! As the market has changed, we've learned a few things we wanted to pass along.
1) The Good Listings are going to go fast. Like multiple-offers-in-24-hours kind of fast. So if you're in the market, make sure you are ready to move quickly when you find something you like. You'll need a pre-qualification with a trusted, local lender in your hands before you make an offer, so get that out of the way as soon as you can!
2) The Well-Priced Listings will probably go over list price. Be prepared. The days when you might look at a home that is prices at $275,000, even though you can't or won't pay more than $265,000 are over. Unless the home is distressed, neglected, or bank-owned; those low-ball offers are a thing of the past.
3) With the number of available homes at it's lowest point in recent history, it's good to have an open mind when looking for that perfect home. Even better, develop a short--list of 2 or 3 homes that would suit, so that in case you are outbid or can't get there in time, you have a back-up or two.
We hope you're enjoying your summer as much as we're enjoying ours!