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 and Dolores Kelley Photographs

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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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com

Roy -

I agree I'm dealing with several bidding wars myself.  Times are changing or already have should I say.  If one hasn't bought a home NOW is the time before looking back and saying what if. 

Thanks for the re-post of our exploding lighter.  Good to get the word out there how dangerous lighters are when left in the hot sun or near a hot grill or stove!

Have a great day in all you do my friend.

John

April 27, 2012 08:38 AM #1
Rainmaker
709,221
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Roy, isn't it amazing how quickly our real estate market turned.  The inventory is SO low and, with the current interest rates being the lowest in history, it's no surprise - it just happened really fast.  

April 27, 2012 08:51 AM #2
Rainmaker
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Robert (Bob) Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX Real Estate Expert

Roy,

I saw the Journal Article this morning and I really don't mind asying to Buyers "I told yopu so"!!! Thanks for the update and if buyers are in the Gaithersburg area they need to see Roy Kelley immediately before prices go through the sky.

April 27, 2012 09:41 AM #3
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Good afternoon to all.  I appreciate your feedback.  Home buyers certainly need high quality advice in the current market.

Kentlands Spring Flowers IMG_7837

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

April 27, 2012 09:51 AM #4
Rainmaker
541,536
Diane Daley
Caron's Gateway Real Estate - Northumberland, NH

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

April 27, 2012 12:46 PM #5
Rainmaker
839,534
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

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 #6
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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 #7
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Pasadena Real Estate Representation 818.516.4393

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 #8
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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 #9
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