Buyers lose in Sequim every week as other buyers move in ahead of them and submit an offer first. It wasn’t like this during the past six or seven years of the recession. We always had plenty of time, and taking days or even a couple of weeks to make a decision on an offer was no big deal. I recently had a couple who found the right home priced within their budget. They thought about it for a couple of weeks, but when they decided to make an offer, it was sold to another buyer for all cash with no contingencies.
I had a buyer just call me today to tell me he found a home he really likes, so I pulled it up on the MLS only to find out that it just sold. I had clients email me yesterday a list of four homes they would like to see, but two of them are pending and sold already. I just sold a beautiful home to a couple, but another couple also identified this home as their perfect home, but they are too late. A few weeks ago I sold a home with a gorgeous water view out at Diamond Point, and since it has been pending, I’ve received a dozen calls asking if it is still available.
Buyers Lose Waiting Too Long
Sequim real estate prices have not jumped up yet, but it is no longer a buyer’s market as it has been for years. But it’s not a seller’s market either. Our real estate market is in transition from a recession to a healthy market, and we are at a tipping point moving from a buyer’s market to a seller’s market.
Buyers Lose But You Don’t Have To
There is an answer for buyers who don’t want to lose out on the one home that seems nearly perfect. You don’t have to lose out to other buyers who beat you with an offer. The answer is not to get in a rush, and it’s not to make a snap decision. That’s how we make decisions we later regret. Every offer should be measured by fully informed decisions, and by good advice. My recommendation is to do your due diligence online, narrow down your favorite listings with one of the most accurate Sequim MLS sites, and in the months before you arrive to look at homes, be talking with your buyer’s agent about your list of homes. He can help you by being your boots on the ground. He can answer specific questions about the property, the area, covenants, and water and septic issues. He can help you get answers to your questions about Sequim and the neighboring communities, and much more.
By the time you get to Sequim to look at your short list of homes, you will know what you want and what you don’t want. You will have a good feel for prices, and by the time you see the ideal home, you will know it, and after discussions with your buyer’s agent, you will know it’s fair market value. You don’t have to be a disappointed buyer. When you see that ideal home, and you know it, submit the offer. Let your agent guide you through the entire process. Some buyers are losing in this market, but you don’t have to just because you didn’t get your offer in on time. Apply this careful strategy and make wise decisions along the way, and you will own the home of your dreams.
Last Updated on June 10, 2014 by Chuck Marunde