Posted on Jul 18, 2022
Buyers now have more power in a home sale than they’ve had in years.
Are you ready for the power shift that is coming from this changing housing market? This shift is happening all over the Bay area and the country as a whole. Now buyers are starting to get some of the power that sellers have held onto for the past three or four years. This is great news for current and soon-to-be buyers. If that is you, here are three things you should consider:
“Buyers are starting to get some of the power that sellers have held onto for the past few years.”
1. Less buyer competition means a higher likelihood of your offer winning. Prices and interest rates have gone up, which has unfortunately driven a lot of buyers away. Therefore, there is less competition and fewer offers per sale. On top of that, as sellers realize the change in the market, they see how they have to sell quickly before the scales are tipped too much. More inventory and less competition is a great combination for buyers!
2. With the increased power, buyers can write contingencies again. These have been impossible for a long time due to too much competition, but now buyers can be more cautious, specific, and intentional. This means more confidence and less worry!
3. Prices are starting to decrease again. Less competition means more price negotiation. Plus, even though interest rates are high right now, they will soon have to moderate, and when they do, you can refinance your home.
These points make it clear how much power buyers currently have. We understand how to use that power, so please reach out to us via phone or email, and we will be happy to tailor a solution just for you. Let’s get together!