Home Buyers Stunned by Bidding Wars

We first reported back in April 2012 the beginning of Clovis bidding wars.  It now appears to becoming a national trend. Home buyers all across the country are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports.

“It’s a little surprising because we thought bidding wars were done with,” home-buyer Andy Aley, told The Wall Street Journal. Aley says he was outbid on a home, even though he offered to pay $23,000 above the listing price and also waive inspections and other closing conditions.

Clovis Bidding Wars

After years of a sinking housing market, nothing is more frustrating than learning you now to compete for your dream Clovis home.  However, that’s what’s happening to many frustrated Clovis home buyers who are caught off-guard about the competitive bidding for Clovis homes.

What happened to the Clovis buyer’s market?  A strengthening housing market coupled with the spring and summer rush (high seasons in real estate), and home prices as cheap as they were in 2002, leaves Clovis home buyers with fewer options and more bidding on the same Clovis home.  Add in historically low interest rates and a drastic decrease in the number of Clovis homes for sale, and you have the recipe fora Clovis buying frenzy.

What Can You Do About Bidding Wars?

The most important thing you can do about Clovis bidding wars is to be prepared.  Gone are the days where you could wait weeks to submit an offer on a Clovis home.  Do that today and the Clovis home likely will be gone.  If it’s priced correctly, a  Clovis home on the market will sell almost immediately (especially Clovis foreclosures) and have multiple offers.  However, you can take control of your Clovis home search and avoid the disappointment of missing out on your dream Clovis home. Your Clovis Real Estate agent will provide you with new Clovis listings as soon as they come on the market so you can visit the home before other Clovis buyers.

We’re Clovis Real Estate and we know Clovis homes for sale better than any other company.  If you’re a Clovis buyer looking for a Clovis home, we’ll scour the Clovis market and find you the perfect Clovis home.  Sign up below to work with us and we’ll help you control those bidding wars and find your dream Clovis home before someone else does!

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This entry was posted on Monday, April 30th, 2012 at 3:04 PM and is filed under Buyer Info, Clovis Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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