By Warren McNeil

The fall market has really come in with a bang. Houses are selling like crazy. As a matter of fact, it is hard to get into see new listings because they are selling quickly. This is good news for sellers since they are potentially getting more money for their houses.

The best thing we are doing for our buyer clients is to stay on top of all the news listings and when a new house hits the real estate board, we go in right away to preview it.  If we think it fits what our client is looking for,  we need to show it to them at the earliest possible opportunity. If the buyer likes the house, we make an offer before anybody else does. If the buyer does this quick enough, they can avoid a multiple offer situation (also know as a bidding war).

The frustrating part for buyers is when they come up against a multiple offer situation. This is great for the seller but not so great for the buyer. Buyers end up paying more money for a home when multiple offers occur.

From a seller’s point of view, creating a bidding war will yield a higher return for their home. In order for a bidding war to occur, two willing buyers have to want the  house at the same time and be willing to outbid one another. We are seeing quite a bit of this as of late.

Buyers need to move quickly if they want to avoid a bidding war. If a seller has a desirable house in a desirable area, it will be very difficult to avoid. Both Kitchener and Waterloo seem to be experiencing high demand right now. I think it has to do with the low interest rates and the government tax credits for first-time home buyers. There should be a lot of happy sellers right now.

Our market seems to be quite strong here in Kitchener-Waterloo at the present time. It will be interesting to see what the stats are for October. If you are thinking of selling, now is a good time. There is definitely no shortage of buyers.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil | Re/Max Twin City Realty, Brokerage
( 519.579.4110 | * Click Here to Email | 8 www.TeamMcneil.com, www.ClickThatBlog.com