Offer and Negotiations

HOLY COW!!!!!!

The housing market in the DFW area is CRAZY!!!!

Buyers are bidding against each other, but if you walk in with a cash offer or financing thru a conventional loan, you have the upper hand.

Offers are being made for $5,000 -$10,000 above asking price.

It’s not uncommon for a house to go on the market and have a contract for purchase the same day.

Realtors don’t like buyers to use big banks. They want buyers to go with a local lender.

It’s enough to make a buyer’s head spin or at least this buyer’s head is spinning.  At the same time, I’ve learned a lot.

With that said, we have put an offer in on a house and are now negotiating with the seller. Hopefully we’ll have a deal hammered out before the end of the day. Although we’ve been trying to hammer out this deal since Tuesday, so who knows.

Only time will tell.

6 comments

  1. Sounds like the Puget Sound market! Houses go for well above list price. We bought in Kitsap County, so not even in crazy King County, and we paid $8k higher than list price for our tiny place. Home buying is SO stressful, but also so much fun! Good luck with your offer!

    • When we purchased our house in Tacoma, we paid $56,500. Eight years later we sold it for $88,000. Not multiple bids, only one and it sold for the asking price.

      My husband recently found a listing for little house in Tacoma and it’s value is almost $300,000. Granted, since we sold the house, someone has completely flipped the house. Still, it’s value has gone up $222,000 in 20 years and I have no doubt that there would be bidding wars on the house in today’s market.

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