Myrtle Beach Buyer Activity Is Changing For the Better

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Things are starting to change – and the first thing I notice is an influx of questions asked by a lot of people.  So to change things up, I thought I’d share with you the three most commonly asked questions lately about buyer activity and explain how the answers to those questions impact our marketplace.

“Are There Still Buyers Out There?”

Absolutely there are buyers vying for the properties listed on the market.  In fact, since interest rates are still at their all-time historic lows, now is one of the best times in the history of our real estate market to buy a home.  Given that our locale is a resort area we are continuing to attract buyers located within the vicinity as well as those from all over the country.  Many of them are interested in buying properties before the onslaught of the summer months.

“Is Lowball Offers a Thing of the Past?”

Buyers making offers that are so low they borderline ridiculous is a phenomenon we have seen throughout the history of real estate.  There are some buyers that make lowball offers no matter what.  Because of the recent buyer-control of our market we began to see more of them leaning toward less flexibility but that is largely beginning to change.  While there will always be lowball offers out there, it is not the norm.  Incidentally, a lot of lowball offers have slowed down either because those buyers have already purchased their properties or they have come to realize just how unrealistic those offers are.

“Are Buyers Very Firm During Negotiations?”

A common misconception has been that since buyers have more of an upper hand lately they are not flexible at all during negotiations.  The truth is that with inventory coming down more and more buyers want the homes they find and are willing to make concessions to get those homes.  There are still those prospects that are trying to seize the current market and get a great deal on their home.

One area that is changing is what both buyers and sellers feel is the fair market value.  At one point, offers were made based on the list price.  However now, buyers are savvier and they are making offers based on appraisals done on the home.  Unless there is a situation where sellers over-inflate the list price to accommodate anticipated negotiations, more often than not buyers and sellers are able to reach common ground on what both consider is a fair market value on the property.
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All of these signs are really positive and they point to a solid future with a stable market ahead.  There are buyers out there, making fair offers without having unreasonable expectations and there seems to a lot more compromise on the horizon.

If you are considering selling your home, now is a great time.  With more and more people looking to fulfill their dreams of owning a home in our community before the competition picks up, I encourage you to consider selling now.  If you are unsure as to whether now is a good time, come in for a custom consultation and we can work out your options together to find a situation that best suits your needs.