Any real estate transaction essentially comes down to the almighty dollar. It’s always been that way and will probably be that way for the rest of time.
At its core, any deal in the world of real estate revolves a couple of vitally important questions. How can you get the absolute most from your property if you’re a seller? And how can you get the best value for your money if you’re looking to buy a piece of property at the Delaware and Maryland beaches?
They’re questions we get all the time, on both sides of the equation. In fact, if we had a nickel for every time…
Well, you get the idea. It’s kind of an important thing in the world of real estate.
The main issue in 2021 is that we’re seeing a much higher interest on the demand side than we are on the supply side. We’ve spoken of this many times in our recent blogs and marketing pieces, but this is really changing the landscape as far as the financial aspect of real estate is concerned, at least here in our local area.
But before we go any further, here’s Oldfather Group Founder and CEO Dustin Oldfather with his take on “Seller Price versus Buyer Price.”
As Dustin mentioned, the inventory of homes at and near the Delaware and Maryland beaches continues to be very low. So low, in fact, that it threatens to cool off the current hot market if inventories don’t improve as we head through winter and into the spring.
Both buyers and sellers need to keep this dynamic in mind when entering the real estate marketplace over the coming weeks and months. Related factors to consider currently include appraisals, financing and making/receiving formal offers.
In this unique type of environment that we’re experiencing in the coastal regions of both Delaware and Maryland, we’re advising clients to price slightly ahead of the market. But not to the point where you find it difficult to remain viable.
But you do want some room to negotiate, either as a buyer or as a seller. So if you’re listing your home for sale, be sure to give yourself some wiggle room. And if you’re a buyer and find a home that you’re sure is the one for you, consider making an offer that’s a bit above the asking price to ensure that you’re in the driver’s seat.
Again on the buyer’s side, you can also have an escalation clause included in your contract that will increase your offer up to a pre-determined amount, at which point the offer would expire. You can even limit some of the contingencies to make your offer even more attractive to the seller.
Write a strong offer, then navigate what comes along next with your chosen Realtor.
Just remember that all situations are different and we would never tell every client to proceed in the same manner. You have to decide with your Realtor what’s best for you and your family and proceed accordingly.
That’s what you pay him or her for, so lean on that experience and have faith that your real estate professional will get you the best possible deal, regardless of which side of the transaction you’re on.
For much more on the current real estate market at the Delaware and Maryland beaches, give the Oldfather Group a ring today at 302-260-2000 and speak to a member of the coastal region’s number one sales team.
And have a great week here at the beautiful Delaware and Maryland beaches!