Here are the three things you need to know to manage your expectations as a homebuyer in the 2021 Phoenix real estate market:
1. You’ll likely have to make multiple offers on different properties. You’ll have to submit at least a few offers before you get a home under contract. Ours is an extremely competitive market with very low interest rates, low inventory, and high demand.
2. Our market is defined by high demand and low supply. You and your real estate agent should understand the market dynamics in your area and price point to have the right expectations.
3. Aggressive strategies don’t guarantee the deal. Just because you love the house, offered a higher asking price, are willing to pay over the appraised value, and are offering many benefits to the seller still doesn’t mean you’ll get that property. Expect to need perseverance throughout the process of buying a home in 2021.
This is a challenging market, but it’s still possible to purchase a house when you have a professional guiding you through the process.
If you have any questions about buying or selling, please give me a call or send an email. I’d be glad to get you scheduled for a free consultation.