While the housing market as a whole has made an impressive comeback since the onset of the coronavirus pandemic, inventory is still lagging behind demand, which has created a competitive climate, particularly for homebuyers in suburban markets.
Homes get listed and sold in a day or two, she continued, which means those looking to buy right now need to be prepared to go head to head on all-cash offers, blind bids, and offers over the asking price. "Should they get an accepted offer on a property, they need to inspect immediately, in many cases the same day. In the worst-case scenario, the next day," she said. In a pre-pandemic market, Retelny said it was acceptable to start low and negotiate up. However, in many of today's suburban markets, you have to make an attractive offer right away — that means offering the asking price, right under the asking price, or in some cases, over the asking price.4.
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