Tips for Buyers Making an Offer in the Competitive Long Beach Island Real Estate Market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Five Things to Consider When Making an Offer in the LBI Real Estate Market 
Five Things to Consider When Making an Offer in the LBI Real Estate Market 
Five Things to Consider When Making an Offer in the LBI Real Estate Market
Long Beach Island Real Estate
The LBI real estate market has always been popular and competitive. With inventory levels being so low, buyers are facing more challenges than ever. For buyers looking to purchase a home on Long Beach Island, there are a few things you should be aware of to help the offer process. Below are five things to consider when making an offer in the LBI real estate market and some tips for buyers making an offer in the highly competitive market on Long Beach Island.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Five Things to Consider When Making an Offer in the LBI Real Estate Market
Buyers in the LBI real estate market need to be prepared and understand the market as a whole. Even in this competitive market, there are still plenty of opportunities. The trick is knowing them and knowing how to act!
- Know and understand the Long Beach Island real estate market: While this may seem obvious, it is incredible how some buyers lack even a basic understanding of the market and what determines value. As a buyer, you should know the current trends, have an idea of what a house is worth, and know a good deal when you see it.
- Trust your LBI real estate agent or find a new one: Unfortianly, not all agents know their job as well as they should. Like any profession, there are good and bad agents. Even a well-intentioned agent may not be able to assist you if he or she does not understand the market and where things are trading. An agent should be able to answer direct questions about a home, its place in the market, the costs of ownership, and the rental potential at a minimum.
- Be ready to act quickly: Homes are selling fast. The average right now hovers around 30 days. In such a fast-paced real estate market, you as a buyer have to be willing and able to come down to LBI and see a home when it is listed for sale. Waiting a week may be too long!
- Make an offer based on the numbers: This is where knowing the market is essential! Regardless of where a home is listed for sale, it will trade at market value. Sometimes an agent will underprice or overprice a home (sometimes by accident and sometimes intentionally). By knowing the numbers and trusting your agent, you can bid a fair number based on the market.
- Be creative with your LBI real estate offer: While price is important, so too are the terms. The highest bid does not always win. Sometimes, there is something important to a seller, such as a fast closing date. By discussing your offer and the seller’s wishes, you may be able to strengthen your offer without raising the price.
Tips for Buyers Making an Offer in the Competitive Long Beach Island Real Estate Market
The LBI real estate market is competitive but far from impossible. New homes come on the market every day, and knowing how to react to them can give you an edge in the Long Beach Island real estate sales market. Buying a home is a big step, and you owe it to yourself to be as prepared as you can be to find the right deal for you. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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