While some are perturbed at having to engage in bidding wars, others understand that it is really OK to be aggressive as a buyer right now – bidding war or no.
The real challenge today is being able to actually buy a property…. ANY property, that you can take hold of, add some value to, and take advantage of a market that is heating up more and more all the time.
I understand that it may seem galling to you to have to pay what sellers are asking right now – that’s one perspective. But if you understand that we are still near the beginning of a real upsurge in the real estate market, where anything you buy right now will be worth substantially more up the road, it gives one a different perspective.
If you are rehabbing to re-sell, the current market will only help you do so profitably.
If you are buying an income property to make some good cash flow and enjoy future upside, there couldn’t be a better time to do so.
If you are merely buying a home for you, or you and your family to live in, or a duplex to live in one unit and rent the other, everything I have just said above applies to you as well.
Low inventory aside, I can’t say it strongly enough…. it’s a buyer’s market right now, and it may not necessarily be for long, so go to it !