Home Buyers Face Multiple Contract Competition

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Education & Training with Retired Real Estate Broker, Maryland Blogger
http://actvra.in/zmj

Home Buyers Face Multiple Contract Competition

Home buyers read about the bargains to be found in the national real estate market and are then shocked when they discover that they face multiple contract competition for the home they prefer.  This is the case with some properties in Montgomery County, Maryland. 

All prospective home buyers need to try to understand the local market as they enter the home purchase process.  An exclusive buyer agent that really knows the local market is a very important resource for a successful effort.  And, home buyers need to be prepared with a pre-approval letter in hand when they plan to use mortgage financing.

Stunned Home Buyers Find the Bidding Wars Are Back is the title of an article in today's issue of The Wall Street Journal.  It is good reading for home buyers and their agents.

Spring flowers are blooming.  Be sure to have your camera in hand to capture the special moments when you are out and about.

Kentlands Spring Blossoms IMG_7818

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



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Rainmaker
533,643
Diane Daley
Caron's Gateway Real Estate

Multiple offers are never much fun,  not many have come out with all parties being really happy...

April 27, 2012 12:46 PM
Rainmaker
839,534
Joshua Zargari
MJ Decorators Workshop
MJ Decorators Workshop LI staging and home decorating

I rather have one bird in my hand instead of 3 up in the air...

Roy, have a nice weekend.

April 27, 2012 01:05 PM
Rainmaker
1,759,101
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Home buyers and their agents need to be prepared for multiple contract competition.

Have a great weekend.

McCrillis Gardens IMG_5623

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

April 27, 2012 06:11 PM
Rainmaker
888,680
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Roy -- as I have been telling my buyers -- generally speaking, real estate is all local and not national.   Multiple offers and often overasking price is definitely back in many parts of our market.    

April 29, 2012 08:10 AM
Rainmaker
1,759,101
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Thanks, Michael, for your comments.  In Montgomery County, Maryland, home buyers need to be well prepared for multiple contract competition.  Cash purchasers with no conditions definitely have the advantage.

Azaleas, National Arboretum, Spring Flowers IMG_8970

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

April 29, 2012 08:21 AM
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Roy Kelley

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