166 Morrow St Aransas Pass, TX 78336
Most of the country is experiencing a very tight real estate market. Inventory levels are historically low, perhaps owing to the concern of strangers traipsing through the home during this time.
Additionally, because most people are staying home, they have been able to focus on their property and how it fits into their lifestyle, emphasizing the need to right-size their environment.
With properly-priced homes moving quickly off the market, homebuyers are frustrated. For those who can be flexible with their timing, new construction offers an appealing alternative to the resale market.
New construction offers the buyer a fresh, blank canvas on which to create their perfect home. In any market, this can be appealing, but when resale inventory is low, this is even more attractive. Yet, new construction is more than modern floorplans and beautiful finishes.
Before buying new construction, it’s important to ask a few questions first:
•How long will the property take to build, and what possible delays could affect that timeframe? How does that timeline fit in with selling your current home or finding interim housing?
•Is your completion date affected by the sale or occupancy of other units or phases?
•What is included in the base unit and what are the additional costs for custom add-on options?
•What are the HOA (homeowner’s association) fees and what do they cover? In addition, it’s important to understand the exact location of the new home and any planned developments or improvements which could affect the home in the future – road noise, parking or traffic congestion, view, etc.
For those trying to compete in this resale seller’s market, it could be time to buy new. Developers are offering some great incentives in this climate, and it can be a great alternative for those with a little time to wait.
Even in a strong seller’s market, a homebuyer might hear the words, “Make me an offer.”
For a nicely appointed home that is well priced, this can be a surprise. Being invited to write an offer can often give the buyer pause. Most buyers will immediately wonder if something is wrong with the home. Did they miss something that is causing the home to take longer to sell?
While it could be that something is wrong with the home, it most likely just demonstrates the seller’s readiness to move. It could be that they have found another home or are motivated by a relocation, but it might also be that they are tired of keeping the home show-ready and are just anxious to be done with it.
In this situation, it’s important for the homebuyer to listen to their agent. A buyer who hears, “Make me an offer,” often assumes this is an invitation to write a low-ball offer. The assumption is that the seller will take any offer just to get the home sold. The buyer thinks they’ve probably got this one in the bag!
The buyer’s agent will be able to add context to the situation and provide reasonable suggestions for price and terms. Even when invited to write an offer, home sellers will not discount their home if there is no need to do so, and sending an offer below market value might insult the seller and prevent a counter-offer or acceptance—causing the buyer to miss out on a desirable home.
Buying and selling real estate is emotional on both sides. Serious buyers and sellers are both eager to find the right deal, but foolish bargains are rare. When hearing, “Make me an offer,” the best move is to consider the home and then rely on the advice of the buyer’s agent about the next steps.
Call me today if you need assistance.
NEW LISTING 166 Morrow St Aransas Pass, TX 78336 Affordable, well cared park model 2 bedrooms, 1 full bathroom & half bath i...