The Outer Banks Market Is HOT

Dated: December 14 2017

Views: 398

Image title

If you are considering a purchase on the Outer Banks in the near future, I suggest you make it sooner rather than later.  The market it picking up to put it mildly.  In the last 7 offers that I presented, I have been in a multiple offer situation.  Competing against other offers is never fun.  But honestly it could have been avoided in a few cases.  How you ask?  Don't wait, like I said sooner rather than later, the old adage of "He who hesitates is lost" has never been truer! 

My clients in a few cases had already viewed the home previuosly.  But being indecisive and coming back for a second look cost them the luxury of being the only offer on the table to being one of two, three, four or more offers.  So a home that they could have purchased for under asking price, was now a full price or better counter, because the seller was now asking for highest and best.

When I provided guidance of where they needed to come in at, which was full price plus...they came in lower and when I responded with, "I'll submit this but honestly this won't get the  property for you"...they were shocked and asked why?  Because this is becoming a sellers market, and your only option is to come in at full price on a counter against competing offers, and that still might now be enough.

It will all come down to how much the buyer wants the home, and when the home closes and you forward that sold comp to them they are still shocked, but a, "I guess you were right, we should have listened"...

So here is my advise, you hire an agent for their market knowledge and expertise.  When they offer you guidance, listen to them.  For most of us, this isn't our first rodeo, we have seen this before and we are speaking from experience.  In North Carolina we have a due diligence period, which in its simplest form is you have a set period to walk away for any reason or no reason, and receive your earnest money back.  It is truly the best of both worlds, but you must use the due diligence option wisely, you must sincerely want to purchase the home.  It is not a get out jail free card so to speak or to make offers willy nilly just to hold the home.  But it is a way to get your foot in the door of a property that you know is going to be great for you, but you just     can't get there to see it in a few days or so, there is lots of activity and or it's priced to sell.

Remember, you hire an agent to represent you, advise you, and ultimately get you that dream property.  All you have to do it listen!

Blog author image

Michele Clark

I have had the privilege of selling Outer Banks property for over 21 years. Whether you are a first time home buyer, seasoned investor or somewhere in between, myself and my team will be with you ever....

Latest Blog Posts

The Outer Banks Market Is HOT

If you are considering a purchase on the Outer Banks in the near future, I suggest you make it sooner rather than later.  The market it picking up to put it mildly.  In the last 7 offers

Read More

Jun 1 2017 27610 1

Why buy on the Outer Banks?  Several reasons come to mind immediately...The Outer Banks remains a family friendly and family oriented destination.  Height restrictions of no higher than 5

Read More

Mar 29 2017 27610 1

Condo or Single Family....When working with new buyers looking for investment or second home properties, my first question is always, what is your price range, then shall I include condos?  The

Read More

Dec 26 2016 27610 1

Did you get everything you wanted for Christmas?  If you were hoping for that place at the beach, you couldn't be looking at a better time. The off season is an excellent time to view

Read More