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How To Buy a Home in a Hypercompetitive Market

If you’re struggling to buy a home in Boston Metro right now, what you’re experiencing might be the most difficult market that I’ve ever seen in my career: a hypercompetitive market. That’s why today, I’m going to give you three expert advice to buy a home successfully:

1. How to win a bidding war. If you’re going after new-to-market properties, you’ll probably run into bidding wars. To win, you generally have to bid 10% over the asking price. Moreover, we’re not seeing a lot of buyers win bidding wars with inspection contingencies. This means you’re either going to need to waive your home inspection, conduct a pre-inspection, or bring a home inspector to check the home before you even make an offer.

2. Target properties sitting on the market. If you don’t want to participate in bidding wars, you can also look for homes that have been sitting on the market for a long time. Overpriced homes typically take longer to sell, and the owner may consider negotiating the price just to get the property off the market.

3. Consider off-market properties. Another strategy is to pursue off-market opportunities. You can send letters to homeowners in the zip codes where you’re interested. By doing this, you may find homeowners who haven’t listed their homes yet and are interested in a private sale. To make things easier, asking a reliable real estate agent will be in your best interest. Real estate agents have a wide network that makes it easier to find off-market properties.

If you want to discuss any of these options, please feel free to reach out to me for a consultation. Just call 857-210-9925 or email lou@c21revolution.com. I’d love to help you find you a great home before the end of the year. I look forward to partnering with you!

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Louis Gordon

Have you ever been burned by a professional? It’s hard to know who to trust. Reputation is important. Takes a long time to build, short time to damage. I’ll hire a pro the first time off online reviews or recommendations. But for me, until that first job is done, all the “satisfied customers”, the accomplishments, the pedigree, the past sales, it’s all just rumor and gossip. To earn my trust, that pro has to perform on a few expectations: 1. Give me all the information that’s available and important 2. Explain the risks so I’m prepared if something goes wrong 3. Do the work they promise to do when they promise to do it 4. Deliver value that’s in line with the cost 5. Be available when I have questions or concerns 6. Put my best interests first 7. Most importantly, if there’s a problem, make efforts to set things right Maybe I’m asking too much. Maybe it’s unreasonable to expect the same from others that you expect from yourself. After 15+ years in Real Estate, I’ve seen first-hand that everyone doesn’t practice business the same way I do. But I think that’s a shame. Homes are different from any other product. Houses and apartments aren’t just property, or assets, they’re a place for people to sleep at night, to store their most precious belongings, to raise their children, to keep them safe. It’s the place where most people start and end their days, the foundation for their whole lives. Backed by the most recognized name in real estate, Century 21, we hold ourselves to the highest standards, working every day to deliver best-in-class service to sellers, buyers, investors, and renters in Cambridge, Somerville, and the greater-Boston area. When we ask for your trust, we do everything possible to reward that faith, because relationships are one of our most valuable resources, and there are few things more important than homes. By The Numbers: - $200 Million+ - Sales done by our team in Massachusetts & New Hampshire - 150+ - 5-Star reviews for our team on Zillow - $50 Million+ - The real estate portfolio we manage for our investors
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