Our market is very intense at the moment. This is no surprise—the reasons are obvious: Our low inventory, the change in our living standards due to COVID, and the fact that many people are leaving their areas for places with more space.
People aren’t traveling as much before, either. The CEO of Airbnb said that people are willing to drive 3.5 hours from their primary home to a vacation destination, which for our area, creates a circumference that extends down to Rhode Island and Connecticut. On top of that, interest rates are historically low.
Suffice it to say that there are a lot more buyers than there are sellers in the market right now. If you were to list a home, you’d probably sell it almost immediately unless it’s grossly overpriced or in bad condition, but even those homes are selling.
If you’re a buyer, you’re in for a lot of competition. Anybody can write up an offer, but I look at it like a blank canvas. While I’m helping to put an offer together, I speak to the seller and their agent, study the competition, and ultimately craft it such that by the time I’m done, the offer has multiple sections besides the purchase and sale agreement. It’s like a work of art that, once completed, is ready to pierce through all the competing offers. We don’t win them all, but our batting average is fairly high right now.
If you’re going to step into this arena, you’ll need to come armed with as many tools and negotiating weapons as you can. You need an experienced Realtor who knows what’s going on and how to fight on your behalf. So if you’re in need of help for your own transaction, reach out to me. I would love to be the champion in your corner. As always, mi casa es su casa!