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Listen as Andrew Duncan, Tampa Bay's #1 Realtor and expert talk to David and Arnie Diaz of Waterstone Mortgage as they discuss the challenges that home buyers face when buying a home especially since Tampa is a Seller's market right now.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
In a seller's market, there is not a lot of inventory so some buyers are missing out on what they want. The market is very competitive. Bidding wars happen in certain price ranges (100,000-400,000 homes). What a buyer needs to do is to sit down, compromise and be a little bit flexible in their search criteria.
One of the things a buyer can compromise on is the location. If you are not able to find the home that you want in a specific area, maybe it's time to open yourself up to looking in other areas.
Another is the price. In a seller's market, a 250,000 home could probably sell for 247,000 if not for more than 250k depending on the situation. There are a lot of bidding wars happening especially in that price range and low balling an offer is not the right way to go.
A buyer may not be able to find everything he wants in a home so compromise is really the key because putting off buying could cost a buyer even more down the road.
One of the things a buyer can compromise on is the location. If you are not able to find the home that you want in a specific area, maybe it's time to open yourself up to looking in other areas.
Another is the price. In a seller's market, a 250,000 home could probably sell for 247,000 if not for more than 250k depending on the situation. There are a lot of bidding wars happening especially in that price range and low balling an offer is not the right way to go.
A buyer may not be able to find everything he wants in a home so compromise is really the key because putting off buying could cost a buyer even more down the road.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
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