Can I avoid being in a bidding war when buying a home
Hey, if you're thinking about buying a home soon, one of the things you might be thinking about is that you don't want to be in a bidding war and that you don't want to overpay. So here's what I'm going to tell you if I understand. The problem is there's really low inventory out there and there's high demand. So the chances are that you're probably going to be in a bidding war. In fact, I would say 90% of the homes that our clients have purchased, unless we purchased them before they hit the market, our clients were in a bidding war. So that's one possibility is if you are willing to throw down on a place before it hits the market and come in strong to convince the seller not to put their house active, maybe you can avoid being in a bidding war. We've had several clients that do that and it is a great way to get in and not be in a bidding war.
It doesn't mean that they're coming in below the list price. It means that they're coming in strong and they're saying, "Hey, seller, take my money. We want your house. Don't put it on that market. Take our money." Okay, well, that's a strong play and I totally would recommend that.
On the flip side, if you're like, nah, I don't like that. That kind of freaks me out or we can't find it quick enough or whatever the reason is. If you wait for the home to go active, the chances are that there's other people who see it and are also going to throw it down on it. So what I'm going to say is don't worry about that. You got to pay what you're comfortable with paying. There's a point where you're not going to be comfortable. At that point, don't do it. So don't worry about bidding against other people. Worry about whether it meets your goals? Is it inside your budget? And at what point does it make sense for you?
So if it does, go for it. Again, there's going to be an amount. I mean, let's just take for an example the place is worth... I don't know. Let's say not worth, but let's say it's listed at 425 and you're like hey, you know what? I saw a whole bunch of other places. This is better than any of them up to 475. You gotta ask yourself at what price point would you still be comfortable owning the home and for a dollar more, you would've been okay at losing it? Maybe that's 450, maybe that's 475. I don't know. It depends on you. Maybe it's 425. If it's 425, you probably won't get it, but that's your comfort level.
So I'm not here to make you poor. I'm here to say that this is not one of the markets for the squeamish. So if you're not one to be in a bidding war, either come in strong upfront, or maybe you might just have to sit on the sidelines, because it is a tough market. But you know what? Interest rates are low and the affordability index is low. It's still a great time to buy. The most amazing part is that it's a great time to buy. There's just very few choices and they're going really, really fast.
Hope that makes sense. If you are curious about some of the strategies or want to talk it out, let us know. Click the learn more button below, schedule a free strategy session with us and we'd love to hear more about your home buying goals and if we can possibly help. I wish you luck on your home buying journey. I'm Brendan Spear with Caprika Realty. Have a great day.
Questions or just ready to get going?

A standard seller or happy home owner - what you need to know when making an offer
View Tips
an un realistic seller can be a difficult seller or one to just skip on.
View Tips
Learn how to avoid this common mistake many home buyers make when just starting out.
View Tips
Avoid this mistake when buying a home!
View Tips
Buy a coming soon listing or off market property
View Tips
Buying a home and using the wrong realtor can be a nightmare. Instead let's talk about how to find a great agent.
View Tips
Buying a home that you will love - Buyer IC Intro
View Tips
Can i avoid being in a bidding war when buying a home? Maybe, sometimes it's a matter of going in strong before the property goes active.
View Tips
Can my parents help me with my down payment to buy a home - Gift funds explained
View Tips
Closing Costs in a normal market
View Tips
Costs you need to know about when buying a home in the Maryland area
View Tips
Estate sales and new constructoin are the 4th types of sellers.
View Tips
An explanation of commonly used terms in real estate during the buying process.
View Tips
Getting a lower interest rate on your loan by paying discount points.
View Tips
#1 Resource to buy a home in the greater Annapolis Maryland area. Learn top tips and tricks to purchase a home in Anne Arundel County and the surrounding area.
View Tips
How we work with you to help you buy a great home
View Tips
I am afraid of being in a bidding war when buying a home. Is there a better way?
View Tips
I want to buy a home but i am afraid of paying too much and a being in a housing bubble
View Tips
I want to buy a new home, what do i need to know?
View Tips
Home Buying Initial Consultation with Caprika Realty
View Tips
Mortgage Calculator - Estimate Mortgage Payments
View Tips
Get Pre-Approved for a Home Mortgage - Financing
View Tips
Greater Annapolis Area Homes for Sale - Personalized Home Search
View Tips
The Home Search Phase of the home buying process explained by Brendan Spear of Caprika Realty
View Tips
We are in a housing market of extremes and have been for a long time
View Tips
We are in an on demand housing market and have been ever since the early 2000's.
View Tips
What are my first steps to buying a home? Before doing lots of window shopping or going to open houses, I suggest you jump on a strategy call with a great agent to talk about a game plan. This will help make your life easier.
View Tips
What are our roles as your buyer agent to help you purchase a home
View Tips
What do i need to bring to settelment day when buying a home
View Tips
What is a foreclosure - what you need to know when buying a REO property
View Tips
What is a short sale - know the type of seller you are goign to write an offer on
View Tips
What is title insurance? Home buyer FAQ
View Tips