A conversation I had with a client provoked a thought that I think is good to share for this super competitive market.
We’re seeing multiple offers on every property, due to the demand and limited supply. Keep in mind that much of this is still somewhat difficult to control due to the lack of building over the last few years however a part of it may be somewhat easy to hedge against.
This would be due to the fact of what we’re seeing people make offers are tend to be what I call the “Millennial Dream Home,” this being the property that has stark colors, generally a light paint color, wood (wood-type) flooring, darker fixtures and bright lighting. This is much different than that which was the super popular homes of the 2000-2010 period, as it creates a larger canvas for a prospective buyer.
These properties tend to get more offers than those who need a little updating, or cosmetic fixes. I think those properties would be the ones to perhaps consider, allowing for a buyer to create their own canvas.
This also is something that my wife and I did. With the help of a good friend and our and now neighbor, we picked up a property that needed updating flooring throughout, paint and some minor updates. We have a fantastic home now and it’s something I would advise those who are getting beat out to consider. Those diamonds are there, in the rough if you just take a moment to find them and often there is less competition.
We’re here to help as well. With our team’s quickness and ability to make an incredibly aggressive offer, shoot me a message – I’m here to help!