Three buyer stories that show just how competitive our market is.
Today I want to talk about the last three clients I worked with; their stories will give you a good idea of what’s happening in our market right now.
The first buyer is a local client who had a tight budget of $300,000, which will not get you much even outside of the city. I got creative and found a lot that was a 45-minute commute out of town. So the client ended up getting a new construction home for just under $300,000.
The second buyer lived out of the county. We had been talking through email and previewing homes, but I knew my chances were slim. He was also looking at possibly living in Dallas or Florida. Luckily, he didn’t like Dallas at all, so when he got here, we looked at both the homes he had previewed and a few new homes I had picked out for him.
I’d picked a custom home builder because I knew he wanted a little bit of land as well. We ended up going under contract with them, so he will be building a custom home on an acre lot in Georgetown. I’m just glad that we didn’t have to compete with any other buyer. We had put an offer on another home in Round Rock, went $20,000 over the asking price, and were willing to pay in cash, but we still didn’t get accepted. The market is uber-competitive right now.
The last buyer was from out of state and had a budget of $700,000. We turned him into a cash buyer, and as of right now, we are on offer number seven and waiting to hear if he got the home. We’ve been going $10,000 to $25,000 over asking with a cash offer and a two-week close, but that hasn’t been aggressive enough to win.
Am I scaring you? I don’t mean to because it’s possible to win, but we have to be very strategic. A lot of it is about hanging in there. Eventually, we’ll find a home for you, and when we do, it will be the right one.
As always, I’m here if you need anything. Call me if you have any real estate-related questions. I want to be your real estate connection.