Well, we all wanted 2021 to make all our dreams come true, and this has been absolutely apparent with the flocking of buyers to the housing market. Like... mass flocks of crazy hungry birds. Sellers are still in hibernation, it seems.
This January and February market is something no one has ever seen. Even agents who have been practicing for decades have never experienced this. So, while buyers are looking for insight and advice, most of what agents can provide at this point is speculation and creativity.
Check out the stats so for:
82 Single-Family home sales so far in Dane county since the beginning of 2021
Average list price is $350,000 and average sold price is $362,000
On average the over asking bid is 3% of the purchase price
So, you might be wondering what the plan of attack is for getting your offer accepted. Here are a few things to consider:
Are you 100% committed to the buying process and ready to purchase? If not, this is not the market for casual shopping. You will get burned out and frustrated very quickly
What is your price point? If it is below $400,000, be prepared to compete with potentially dozens of other offers by putting your best foot forward
How many contingencies are you including? Are you able or willing to waive your appraisal or pay a little extra over the appraised value? Do you have handy people in your life that could help you with repairs to set a cap on your inspection contingency? Can you wait until after you close to do the radon test?
Are you willing to look outside of Dane County? Are you open to both condos and single-family homes? Being as flexible as possible will help you find a home faster. JUST BECAUSE YOU AREN'T GETTING EVERYTHING YOU WANT IN YOUR FIRST HOME DOESN'T MEAN YOU WILL NEVER ACHIEVE YOUR DREAM HOME!
Lastly...
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