If you’ve found your dream home, you need to be realistic about today’s housing market and how that impacts the offer you’ll make. Offering below or even at a home’s asking price may not cut it right now. Currently, the asking price is often the floor of the negotiation rather than the ceiling. That’s important to keep in mind as you work with your agent to craft an offer.
More homes may be on their way, giving you more options.
If you’re having trouble competing against other buyers, there is good news. There are some signs more sellers are about to enter the market. George Ratiu, Manager of Economic Research for realtor.com, says:
“Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.”
As a buyer, that means more homes will likely be listed this season, which gives you hope for more options. Just remember, you still need to be prepared to make a competitive offer if you really love the home. Here’s a look at the percent of offers over asking price, so you can get a feel for what to expect.