Warren County Ohio Real Estate News and Observations

Is The Third Time The Charm?

multiple offers are not a buyer's friendRight now parts of the Cincinnati market are going a bit crazy.  Not nearly enough homes for sale, especially in the most affordable price points.  We're working with buyers who are willing to buy in the West Chester/Mason/Kings area and we're seeing a consistent trend:

Homes are being swarmed by buyers as soon as they come on the market.  Now we're not nearly as crazy as some markets in the country, but it's not been the norm here to have to compete with more than one or two other offers if you're a buyer.  That's not the case currently, with nice homes getting 5, 6 or more offers.  And that means there is ONE winner and more buyers that are having to continue their home search.

So perhaps it's not even the third time that's the charm, but house purchase attempt 5 or 6 (or more) before a buyer is the winner.

As an agent you can watch your buyer's approach change as the reality of the market sets in.  The desire to have a home to call theirs leads to some "must haves" becoming...."well if we can get that, great, but if not maybe we can add it later!".

The desire to get a deal becomes "so how close to asking price do we need to get?" or even "so how much OVER asking price do we need to go?".

We're hearing of buyers dropping the appraisal contingency and it wouldn't surprise us if some get desperate enough to drop the inspection criteria too. 

"Just get me a house!!"

But there has to be balance of risk and reward.  Removing some contingencies such as the appraisal contingency could potentially cost a buyer tens of thousands of dollars if the appraisal comes in very low.  Not a good situation to be in and one we're doing our best to protect our buyers from experiencing.

Is it frustrating to not win the offer?  You bet!  I WANT my buyers to win too, but with their best interests properly protected.  So sometimes I have to be "Buzzkill Bill" and deliver bad news.  But we WILL find the right house yet!

 

Ready to talk the specifics of buying or selling a Warren County area home? Call The Liz Spear Team of RE/MAX Elite at 513-520-5305 or email Liz@LizSpear.com.

Serving Warren County Ohio area home buyers and sellers,

Bill of Liz and Bill aka BLiz

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS Ohio License SAL.2002007747

William (Bill) Spear, CRS Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

Comment balloon 11 commentsLiz and Bill Spear • April 28 2017 11:17PM
Is The Third Time The Charm?
share
Right now parts of the Cincinnati market are going a bit crazy. Not nearly enough homes for sale, especially in the most affordable price points. We're working with buyers who are willing to buy in the West Chester/Mason/Kings area and we're… more
How To Ask For Closing Cost Help And NOT Hurt Your Offer
share
It's not uncommon for buyers of Cincinnati homes to request closing cost assistance. It's not necessarily that they can't afford to pay for them, but more a matter of wanting to keep some cash flow ready for all the things they want to do after… more
Sometimes Online Just Isn't Good Enough
share
We're currently remodeling our own home and much of our search starts online. Farmhouse sinks, faucets, appliances. Other things we've found to be best in person: kitchen cabinets, counters and stone to go around the fireplace. Some things just… more
We Found You A Home. What's Next?
share
It's a seller's market so finding a home and getting it under contract can be challenging. A scarcity of homes for sale, anxious buyers and multiple offers aren't uncommon. But finally, we've got YOU under contract! So what's next? There are a… more
Why Do You Show Homes Under Contract On Your Website?
share
When we set up our home search website based on Cincinnati MLS we had a choice in direction to make: Show ONLY homes not under contract or show BOTH homes under contract and those not under contract? And we chose to show BOTH. Now it's possible… more
My Specialist Wasn't Special Enough
share
When I need something medical I start with my Primary Care Physician. He can take care of my general medical needs but there are things he doesn't have the expertise to handle so he sends me to a specialist. A doctor that specializes in knee… more
Flip Flop
share
"I'm Joe McFlipper and I've bought and sold hundreds of homes using other people's money! For only $399 I can teach you how to be rich like me! " You've heard and seen the commercials or watched the TV shows. It looks and sounds easy,… more
Some Things Can't Be Fixed
share
Our kitchen faucet started leaking around the pull out nozzle. A little trickle at first, then more significant. Fortunately the repair was relatively easy. A new hose for $21 with a two day Amazon Prime delivery and Sunday afternoon I had what I… more
Is NOW A Good Time To Buy A Home? The Answer May Surprise You!
share
As Cincinnati area real estate agents we love helping area home buyers and sellers. And while you might see commercials telling you "Now is a great time to buy! ", it's not always that simple. Fact is that decision is a very personal one… more
Knowledge Is Negotiating Leverage
share
Back in my Navy days we wanted to know as much information as possible about our opposition while denying them as much information about us as possible. Knowledge was power then and knowledge is power now, just in a different way for me now… more