Hey, What's up with all the Multiple offers? I thought the market was soft?

Saturday, March 26, 2016   /   by Bryan Statt

Hey, What's up with all the Multiple offers? I thought the market was soft?

Well folks, the new reality in Edmonton, Sherwood park and surrounding areas is that inventory levels continue to rise and consumer confidence is apathetic at best. Interest rates are low, there are many homes to choose from and it would appear that this is the time to take a casual look into buying your first home. So why is it that when you are talking to that co-worker who is looking for a new home they tell you that every property they have seen online is pending or sold and when they write an offer quick on a new listing they find themselves in Multiple offers? Well the anatomy of this enigma is actually quite logical. It is actually because of the low interest rates and high inventory levels! We currently have a LARGE number of buyers in the market who have become highly educated on price and value because they have seen so many properties and have lots of comparable homes in all areas. So when that really cute home with the great price in a good neighbourhood comes up they all jump at it knowing its a great value for the money! Hence multiple offers and low market time. The moral of the story? If you are a buyer hitch your little wagon to a STAR findedmontonhome.com agent who will work for you around the clock through a written agreement and don't miss out on the next big deal. For the sellers reading this? Easy. BE that home that is priced right by hiring an agent who knows your local market and can coach you on how to price your home for maximum interest and has tools to see it through to a successful close!

  offers, multiples, edmonton, sherwood park, pending, sold, inventory

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