ShareThisSpring Has Sprung Early!
The Real Estate market in Baltimore feels like a spring market even though we are still in February. January was just as competitive. 80% of my clients have gone up against multiple offers. I have a client that want to submit an offer on a property in Baltimore County today, and the listing agent has informed me that she has received 6 offers between yesterday and today. The seller will be reviewing offers tomorrow. I believe it will be even more competitive in the spring. The main reason the competition is so fierce is because we have low inventory of properties so the really nice ones sell quickly and usually for a little more than asking price. If you are going to compete in this market here a couple of things you need to do.
1. Get Pre-approved now. You don’t want to lose out on a property because you could not get a pre-approval letter in time to get your offer submitted.
2. Make sure you are working with a full-time agent who can get you out quickly to see a property and get your offer submitted. Sometimes a couple of hours can be the difference between you getting your offer accepted or you lose the property to another buyer.
3. Put your best foot forward first. Submit your best offer because you might not get a second opportunity at the property.
4. Don’t become attached to any property you submit an offer on because you might not win your first one.
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