Articles Tagged "Bidding Wars"

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April
22

The 2016 Market is HOT!  We're seeing many Jones open houses flooded with buyers - the buyers are here and ready to buy!  As a result, several properties have gone under a multiple bid process, especially in the towns of Northampton, Amherst, Easthampton and Hadley. The buyers are waiting for that special home in the perfect location and price point. So, we've put together some helpful tips on how to be a winner in a today's competitive  market here in the Valley:

 

 

 

 

  9 Tips on How to Win a Bidding War

  1. Know your area. Learn the values and the recent sales in the area in which you want to live. Connect early in the process with your Jones agent so that you will have all of the current market information. Then you will know what is  an appropriate offer.
  2. When it comes to price, be realistic. Low offers in this market will not be productive and may waste valuable time.
  3. Pick your "walk away" number, and stick with it. It may be best to offer your top price first in a hot market.
  4. Be flexible on offer terms. Have your agent learn what the sellers are looking for in terms of closing date, and other considerations. If you are able, accomodate them.
  5. Don't dawdle-if you love the house, act fast. Chances are someone else loves it too.
  6. Get preapproved by a bank, otherwise your offer will not be seriously considered (this should be your 1st step.)
  7. Decide what you want to do if the appraisal is below asking price. Some buyers are willing to pay the difference in cash to get the house of their dreams.
  8. Position yourself as a backup in case another buyer pulls out.
  9. Connect with sellers. Write a personal letter to the sellers telling them why you would like to buy their house. Your agent can present it with the offer.

While going through a multiple bidding process can be challenging, our Jones Team in Amherst, Belchertown and Northampton has the experience to help you realize your dream of home ownership. Contact a Jones agent/advisor today to put the leading real estate company to work for you!

 

April
28

The Massachusetts Association of REALTORS® (MAR) reports that April is seeing the market come to life.  "While the market still needs more homes for sale – including both existing homes and new construction- the increase in new listings in March is a good sign," said 2014 MAR President Peter Ruffini. "With home values on an upward trend, it gives homeowners the opportunity and incentive to take advantage of the current buyer demand and list their homes for sale."  Read more from MAR.

The buyers are here and ready to buy!  We have seen several properties go under a multiple bid process, especially in the towns of Northampton, Amherst and Hadley. The buyers are waiting for that special home in the perfect location and price point.

  9 Tips on How to Win a Bidding War

  • Know your area. Learn the values and the recent sales in the area in which you want to live. Connect early in the process with your Jones agent so that you will have all of the current market information. Then you will know what is  an appropriate offer.
  • When it comes to price, be realistic. Low offers in this market will not be productive and may waste valuable time.
  • Pick your "walk away" number, and stick with it. It may be best to offer your top price first in a hot market.
  • Be flexible on offer terms. Have your agent learn what the sellers are looking for in terms of closing date, and other considerations. If you are able, accomodate them.
  • Don't dawdle-if you love the house, act fast. Chances are someone else loves it too.
  • Get preapproved by a bank, otherwise your offer will not be seriously considered (this should be your 1st step.)
  • Decide what you want to do if the appraisal is below asking price. Some buyers are willing to pay the difference in cash to get the house of their dreams.
  • Position yourself as a backup in case another buyer pulls out.
  • Connect with sellers. Write a personal letter to the sellers telling them why you would like to buy their house. Your agent can present it with the offer.
  • While going through a multiple bidding process can be challenging, our Jones Team in Amherst, Belchertown and Northampton has the experience to help you through this process. Contact a Jones agent/advisor today to put the leading real estate company to work for you!