Anne West’s North Shore Views paints this picture of a changed market:
It seems like just yesterday that it was a buyer’s market here on Chicago’s North Shore: lots of homes to choose from, plenty of time to consider the options, the ability to negotiate hard with desperate sellers, the possibility of scoring a deal with a low-ball offer.
But those days are gone. Nowadays we have so little inventory on the North Shore, that good homes are selling fast and buyers are finding themselves in bidding wars to get the house they want. Just as it took sellers a long time to accept the fact that their homes were no longer worth what they were back in 2007, today’s buyers are having trouble getting their heads around the fact that they aren’t going to get the deal of the century when they buy.
West’s post offers a list of 7 things that buyers can do to enhance their competitive position when there are multiple offers on a property.
Most North Shore buyers are likely to be represented by savvy, veteran agents who have prepped them with the same advice – and more.
What more – besides overpaying – should buyers do to win in a multiple-offer scenario?