Managing The Proper Emotion When Dealing With Multiple Offers

So you may or may not want to hear this phrase, (multiple offer), but it is about to get a lot harder for some buyers to find a home that they want without running into multiple folks bidding once again. The simple fact is that D/FW is the number one destination right now, and second only to Miami in terms of month over month appreciation from a percentages stand point, for the last quarter. Miami has the highest number of billionaires and drug lords per capita so I think that puts us in good company...

So, if you are in fact considering a purchase get approved now. Make sure you have a good chat with your lender about all the number, and what they will be asking for. Make sure your 2023 taxes are correct and you know what you have to pay to the government if you're self-employed. Next step, when it comes to sorting out what you should offer on a home that is being marketed with multiple offers determine what you are okay with. The early spring will be fraught with opportunities and homes coming to market, but know also that some sellers are lazy. The lazy ones tend to put their home on the market in late spring or in the summer.

BUT, if you absolutely know this home is the one. Don't just let it get away and call it a lost cause. Give it your best shot and if you don't win fine. If you DO win, know you did right by the market. Analyst expect the housing market to go up by 4-8% in many markets this year so know that your offer, if over list, will be within a market range only within a matter of time.

Everyone knows what happened just a few years ago, the folks that paid $30k, $60k, $100k, over the list price in most parts of the country still HAVE EQUITY! This means that prices have gone up so much that the over payment didn't really affect their overall feeling of loss.

Happy New Year and Happy Hunting!