HUNTSVILLE, Ala. — There are a couple of odd things happening within the market right now... One of the more common issues happening now is there are more buyers than product.
That means many, many people are interested in the same house... At the same time...
"Yes, it is very common in today's market for buyers to experience a multiple offer situation when they're going to purchase a house.", says Nikkia Dollar, Associate Broker, from Keller Williams .
Daryl Johnson, Advisor at Engel & Völkers said, "I've had recently several buyers that were looking and it's been 12-15-20 offers on a house, a very entry level, you know, price point and still having that.. yeah."
Multiple offers also mean higher prices.
Also cash offers becoming more common...
Johnson added, "That was a little unusual a couple years ago and now it's even more more common. So, it's difficult for buyers that are financing to get a home they can't beat out a cash offer."
Instead of the value going down after you move in, the value is going up and up.
Dollar said, "There have been been people who moved here, and then life happened, they had to move away for some other job opportunity or familial obligation, and within a couple of months sold their home for 10 to 15% more than they bought it."
So, if you're about to starting looking to buy... There are a couple of questions you need to ask yourself...
Dollar added, "Be realistic about what your needs are. It's very common to confuse a need with the wants."
With Johnson adding, "Are you financially comfortable with this decision? Then go for it. If you're not, if you can kind of hold out a little bit longer. We don't- I don't have a crystal ball. I don't know what's going to happen, but it might be to your benefit to wait."