How To Buy a Home in a Hypercompetitive Market

Are you struggling to buy a home near Boston? You’re not alone. This is the most difficult market I’ve ever seen in my career: a hypercompetitive market. That’s why today, I’m sharing three expert tips to help you buy your next home:

1. How to win a bidding war. If you’re going after new-to-market properties, you’ll probably run into bidding wars. In eastern MA, winning bids are generally 10% over asking price. Moreover, most winning bids are waiving inspection contingencies. This means you’ll either need to forgo your home inspection or conduct a pre-offer inspection.

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 pursuing off-market opportunities. You can send letters to homeowners in your favored zip codes to find properties that haven’t listed yet and may be available for 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 find you a great home before the end of the year. I look forward to partnering with you!