Cut throat contest has been forcing emptor into bidding warfare with each other for houses . We asked BHGRE Real Estate Agents why this has become the average .
Does fix still matter most ? Should you reforge your family to suit your appreciation , or for resale value ? Are starter homes still a matter ? We all have plenty of questions about the ever - changing earthly concern of actual estate . In ourAsk an Agentseries , we ’re partnering with expert atBetter Homes & Gardens Real Estateto answer your biggest questions about finding , buying , and sell a home .
come up the right house can almost be as hard as finding the correct living partner . People really require to lock a home in , no matter what it takes . And sometimes that entail entering a bidding war . Is that the right elbow room to secure a home now ?
Credit:John O’Reilly
John O’Reilly
For this instalment ofAsk an Agent , we talk with John O’Reilly of theBetter Homes & Gardens Real Estate Base Campabout whether a bidding warfare is a necessary evil or an avoidable onus .
John O’Reillyis a veridical acres agent ground in Richmond , Virginia . He sell all kinds of homes , from unmarried - kin units to condominium to empty place ; O’Reilly has 26 years of veridical land experience .
Ask an Agent: Should You Get into a Bidding War for a House You Want?
There ’s the right style to get place , and then there ’s the necessary way of life to get a home . I think depending on what your needs are and what your wants are , sometimes sitting on the pursuit is n’t a bad thing . It ’s just about waiting for the right house at the right-hand monetary value .
But that ’s hard when the market is going up 10 % to 15 % a yr . If there ’s a house that fits my budget and the charge per unit are low , I ’m gon na get it . But the rates have gone up and that ’s chill off emptor requirement . We still have n’t picture a ton of inventory because a lot of people are sitting on low interest rates , so they ’re not snuff it to trade a low interest charge per unit to get a high interestingness rate .
The last six or seven year has been a crazy seller ’s market . So observe the house you love that fit your budget and getting it — even if that means bid wars — is just what we are up against today .
Just be thrifty what you wish for . You do n’t need to end up in a situation where you want the house so bad , you ’re willing to dispense with this stuff , you ’re willing to pay more , you ’re uncoerced to do all these thing . Then you get it and it ’s not everything you thought it was . So now you ’re in a home that you kind of resent a little snatch .
