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Navigate multiple offers with ease

Jul 29, 2016 10:25 am
Written by Marie Dinsmore
0 Comments

shutterstock_142213210-ae5bd4There’s nothing like the feeling you get when, after touring what seems like—or might actually be—dozens and dozens of houses, you finally find the one.  The minute you enter, you can see your life playing out within its walls and try as you might, you cannot squelch the array of possible paint colors floating through your head.  It has to be yours.  You’re certain it will be…

…until you discover that nine other bidders are waiting in line.

How did that happen?  You’re angry and anxious, especially since you know that you’re attempting to buy in a seller’s market.  After the housing collapse several years ago, it might seem strange to see buyers without the upper hand; however, with less inventory currently on the market, it’s not unusual for sellers to receive upwards of 15-20 offers on a home.

Therefore, if you find yourself in this type of situation, whether you think you stand a chance or not, it’s always a good idea to write an offer anyway.  To help you along, here are a few tips to put you in the best possible position:

DON’T UNDERESTIMATE EXPERIENCE.  You wouldn’t go to court with an inexperienced, novice attorney, so why would you bet your financial livelihood on an inexperienced real estate agent?  When it comes to navigating a multiple-offer situation, hiring the services of a seasoned Realtor—who is not only familiar with the process, but has a track record of successful closings—is one of the most important steps you can take.

GET PREAPPROVAL.  Generally speaking, each offer will undoubtedly be accompanied by a prequalification letter from a lender; however, you can appear to be the strongest buyer by entering negotiations with a loan preapproval letter.

PUT YOUR BEST OFFER FORWARD.  Instead of expecting negotiation, write your best offer and make it attractive.  In an effort to determine pricing, a solid Realtor will be able to give you a comparative market analysis, which is important since many sellers intentionally set low prices in an effort to generate multiple offers.  Just because you’re paying above their asking price, doesn’t necessarily mean you’re paying more than the market value.

UNCOVER WHAT’S IMPORTANT.  All sellers have certain wants that will help you land in their good graces.  Whether it’s a fast closing or a longer than normal escrow period, ask your Realtor to find out what those hot buttons are and work hard to make them a reality.

DON’T GET HUNG UP ON CONTINGENCIES.  While it’s essential to get a home inspection before you close on a property, there’s nothing wrong with tightening the time period a bit.  When it comes to contingencies you have the power to speed things along, so if your loan is solid, don’t be afraid to waive the loan approval contingency.

MAKE IT PERSONAL.  In some instances, it may even be helpful accompany your offer with a handwritten letter that will explain to the seller why their home is perfect for you and your family.  Making things personal will not only help you stand out, but it will take you from being just another offer to being a real person.

In the end, multiple offer situations can be challenging, especially if you’ve found yourself on the losing end of a similar circumstance in the past.  To make yourself the best possible candidate, straighten your affairs and hire a practiced Realtor who can walk you through the process.

To learn more or to see how I can help you, please feel free to contact me.  I’m a proven Realtor who is great in multiple offer situations—and I’d love to hear from you!

Marie Dinsmore
The Dinsmore Team
www.DinsmoreTeam.com
770-712-7789

July 2016 RE/MAX National Housing Report

Jul 14, 2016 10:20 am
Written by Marie Dinsmore
0 Comments

NOTE: This press release was produced and originally distributed by the RE/MAX Network

Home Sales Warm Up With Summer Temps

DENVER (July 14, 2016) – With the market now in the midst of the popular summer selling season, both home sales and prices are rising with the summer temperatures. Homebuyer demand in June kept sales levels above last year’s by 0.7%, with a strong increase of 9.4% over sales in May. The Median Sales Price in June was $229,900, which marks a 2.2% increase over prices seen in June 2015. As year-over-year price increases moderate, there’s a positive impact on home affordability. The number of homes for sale in June fell 15.6% from levels one year ago, making inventory supply a significant challenge, especially in West Coast metros. At the rate of home sales in June, the national Months Supply of Inventory was 3.2, a slight improvement from the 3.0 supply seen in May.

“Last year was the best we’d seen in a long time for home sales. So, it’s encouraging that sales this year are remaining above last year’s levels. Moderating prices are a good thing for this market. Homeowners are still seeing improvement in their equity, while there’s less chance of homebuyers being priced out. We have to wait out the ongoing inventory challenges, but the month-over-month stabilization we’re seeing is a very good sign,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

“Nationally, home value increases are well within the healthy range. Although, variances across the country can influence owners’ perception. It’s important for homeowners to realize how they perceive their home’s value could vary widely from how an appraiser views it, since it can make or break a home sale or mortgage refinance,” added Bob Walters, Quicken Loans, Chief Economist.

RE/MAX July National Housing Report

Closed Transactions – Year-over-year change

In the 53 metro areas surveyed in June, the average number of home sales was 0.7% higher than one year ago, and was 9.4% higher than the previous month. Sales are slightly above the strong numbers seen last June and are also above the 6.7% average of month-to-month increases from May to June over the last eight years. Like previous months this year, June home sales continue to be strong in the Northeast. Across the nation, 31 of the 53 metro areas surveyed reported sales higher than one year ago, with six experiencing double-digit increases; Augusta, ME +22.7%, Las Vegas, NV +13.2%, New York, NY +13.1%, Trenton, NJ +11.1%, Cleveland, OH +11.1% and Hartford, CT +10.2%.

Median Sales Price – Median of 53 metro median prices

In June, the median of all 53 metro Median Sales Prices was $229,900, up 3.0% from May, and up 2.2% from the Median Sales Price in June 2015. June is the 53rd consecutive month without a drop in price from the previous year. In 2015, the monthly average of year-over-year price increase was 7.6%. The 2.2% rise in June appears to be signaling a moderation in price increases, which eases pressure on home affordability. Among the 53 metro areas surveyed in June, only four had a year-over-year drop in Median Sales Price. The remaining 49 metros reported higher prices than one year ago, with seven rising by double-digit percentages; Tampa, FL +14.1%, Orlando, FL +13.9%, Honolulu, HI +13.1%, Portland, OR +12.6%, Denver, CO +11.1% Boise, ID +10.1% and Augusta, ME +10.1%.

Days on Market – Average of 53 metro areas

The average Days on Market for all homes sold in June was 54, down 4 days from the average of 58 in both May 2016 and June 2015. June becomes the 39th consecutive month with a Days on Market average of 80 or less. In the three markets with the lowest inventory supply, Seattle, Denver and San Francisco, Days on Market was 25, 23 and 21 respectively. The highest Days on Market averages were seen in Augusta, ME at 143, down from 174 in May, and Des Moines, IA unchanged at 103. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Month’s Supply of Inventory – Average of 53 metro areas

The number of homes for sale in June was just 0.7% lower than in May, but 15.6% lower than in June 2015. Like May, June had a sequential inventory loss of less than 1%. The apparent stabilization of inventory on a month-to-month basis is a positive sign, especially during the summer selling season. Based on the rate of home sales in June, the Months Supply of Inventory was 3.2, which is nearly identical to last month and last year, 3.0 and 3.6 respectively. A 6.0 month supply indicates a market balanced equally between buyers and sellers. The number of metros with a Months Supply of Inventory below 2.0 may also be stabilizing at 8, down from 10 in May. The eight metros with less than a 2-month supply include Seattle, WA 1.2, Denver, CO 1.3, San Francisco, CA 1.3, Portland, OR 1.5, Boston, MA 1.5, Omaha, NE 1.8, Dallas-Ft. Worth, TX 1.9 and San Diego, CA 1.9


About the RE/MAX Network

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. Nobody sells more real estate than RE/MAX, when measured by residential transaction sides.

RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:RMAX).

With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities.

For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/

The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

 

Featured Neighborhood: Cheswyck in Cumming, GA

Mar 17, 2016 6:48 pm
Written by Marie Dinsmore
0 Comments

5658837_1These stunning, five-plus bedroom homes by D.R. Horton are located in Cumming, GA and feature resort-style amenities, including lighted tennis courts, a luxurious club house, community lake, and a large pool with five lanes.

Each homesite boasts professional landscaping with either wooded, lake, or greenspace views and include interior trim packages, five-inch hardwood floors, and an abundance of crown molding.  Basements are also an option—along with cul-de-sac lots—which complement the luxury of upscale interiors that feature full oak staircases with iron spindles, coffered ceilings, and large walk-in closets.

5658837_22For buyers particularly interested in homes featuring beautiful kitchens, Cheswyck homes include gourmet kitchens with granite countertops, ceramic tile backsplashes, stainless steel appliances, double wall ovens, and gas cooktops.

SCHOOLS:

Shiloh Point Elementary     PK-5th

Piney Grove Middle     6th-8th

South Forsyth High     9th-12th

14906380-150416If you’d like to learn more or would like to schedule a showing, I’d love to help you.  Please feel free to contact me.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Deal with a Home that’s Not Move-In Ready

Mar 5, 2016 2:55 pm
Written by Marie Dinsmore
0 Comments

lkjAfter months—and possibly even years—of planning, searching, and organizing, you’ve finally done it—you’ve signed the paperwork and left with the keys to your new home; however, unless your purchase is totally move-in ready, you’re just getting started.

If you’ve decided to close on a house that could use a little bit of TLC, it’s important to understand the amount of money and effort it will take to make your home something you are truly happy with.  At the very least, a little paint will help spruce things up; however, in all reality, if there’s updating to be done, it may take more than a new color scheme.

Read more ...

How to Navigate a Multiple-Offer Situation

Feb 15, 2016 11:11 pm
Written by Marie Dinsmore
0 Comments

shutterstock_142213210-ae5bd4There’s nothing like the feeling you get when, after touring what seems like—or might actually be—dozens and dozens of houses, you finally find the one.  The minute you enter, you can see your life playing out within its walls and try as you might, you cannot squelch the array of possible paint colors floating through your head.  It has to be yours.  You’re certain it will be…

…until you discover that nine other bidders are waiting in line.

How did that happen?  You’re angry and anxious, especially since you know that you’re attempting to buy in a seller’s market.  After the housing collapse several years ago, it might seem strange to see buyers without the upper hand; however, with less inventory currently on the market, it’s not unusual for sellers to receive upwards of 15-20 offers on a home.

Read more ...

Tips for Purchasing a Luxury Home

Feb 9, 2016 11:00 pm
Written by Marie Dinsmore
0 Comments

khIf you’ve worked hard for years in an effort to accrue a certain income level, at some point, you’re likely to want to invest your hard-earned money into a home that you and your family can truly enjoy.  Whether it’s a modern high-rise condo or a sprawling golf course estate, there are a few items that should be considered before purchasing a luxury home.

Read more ...

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As North Atlanta’s premier real estate agency, we are thrilled to be your trusted resource when it comes to helping you navigate the housing market. Whether you’re looking for the home of your dreams or are quickly hoping to sell your current property, we pride ourselves in our ability to make sure our customer’s pricing needs are always met.

We serve Alpharetta, Milton, Johns Creek, Suwanee, Cumming, Dawsonville and Lake Lanier.

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