It happens almost every year. Sometime in winter, buyers come to us thinking they might get a leftover/mismarketed property for a good price. Or they come in, excited, to get a jump on the spring market.

Sometimes this leads to great results. There will be some properties that didn’t sell in the fall where the sellers are ready to get reasonable. There will be some new listings popping onto MLS and Zillow. But buyers will also see those fall leftovers disappear – or worse, come back this spring at a higher price. Buyers may also see bidding wars. We encourage you to not lose heart.

A tale to warm your heart:

Once upon a time (actually, it was January, 2023), there were buyers looking for a home. They had 25% down. Their price range was around $1,300,000. They should have had lots of choices, right? Well…

That January, they found something suitable. It was 2016 construction. It was modern and nice. It was also close to a highway; there was noise. It is not in, but not very far from, a flood zone.

There was a bidding war. They offered $35,000 over asking price, which was consistent with the market study we did for them. They did not get the house. Someone else got it for $77,000 over asking price.

We hope those buyers are happy. May they live long and prosper.

However, our agent Alex Lacroix got our clients a better deal in September, 2023. For $29,000 below asking price, these same buyers purchased a newly constructed house. Both houses were in the same neighborhood, but the one they bought was farther from the highway and the flood zone.

All’s well that ends well!

How to stay sane while buying in the current market:

  1. Tone down the noise. Every offer you make should reflect an offer that you will be happy with. Take in the benefits of the property for you. Look at the market data we provide as a guideline to inform your negotiation. Make your best decision. We’ll outline some negotiation strategies, then carry out the negotiation plan you choose.

Ultimately, this is about you, your family, and your home. What other buyers are doing influences how you position yourself to get the property. Try not to get sucked into the competitive feeling that will tempt you into making a mistake.

2. There is not just one house for you. Every house is different, to some extent. Most houses are more-or-less the same in terms of how you and your family can live in them. Unless it is the house next to your best friend, or a one-of-a-kind architectural gem, chances are you will find more than one house that serves you as well. If this week’s bidding war finds you in second or third place, move on. There will be more houses.

3. Be patient. You are making a 10-year, or maybe a 25-year decision. If it takes six months to get it right, so be it. That is much better than paying too much and getting less than you could have gotten.

We are going to stick with you, whether you have to make one offer or five of them. Our job is to guide you through turning your money into a home that will be yours for a decade or more.