As with most markets across the Country, Coweta County is experiencing a sort of unique market condition. What's that??? WE HAVE MANY, MANY MORE BUYERS THAN WE HAVE PROPERTIES TO SELL TO THEM!!!! Now, don't get me wrong..this has created a beautiful scenario for those who are looking to sell their homes. Demand is up and supply is down! The perfect economic dilemma!!!
I know that this scenario is pretty difficult for some buyers to believe, but it's the God honest truth! The fact is, we currently have only 728 properties available for sale in Coweta County, GA. That's half of what was available within our market a year ago and equates to a 4.8 months supply of inventory. THIS MEANS THAT WE'RE DEFINITELY IN A SELLER'S MARKET!!! Additionally, we've had a 10% increase in the median home price in Coweta County, GA.
This means that if you're looking to sell your Coweta County, GA home, then you're primed and ready to get the maximum amount of money for your home. In fact, you should expect a multiple offer scenario if your home is priced with the market!! Yes!!! RECEIVING MORE THAN ONE OFFER ON YOUR HOME IS POSSIBLE IN THIS CURRENT COWETA COUNTY, GA MARKET!!!!
If you're looking to purchase a new home in this market, here are a few simple steps that you must take in order to be able to compete for your dream home:
1) Get pre-approved immediately! This is optimal if you'd like for your offer to be seriously reviewed by the Seller. Everyone else will be submitting an offer with some sort of proof that they can actually purchase the home...either a loan pre-approval or a Proof of Funds letter. You not submitting a pre-approval or Proof of Funds would kinda be tantamount to bringing a knife to a gun fight.
2) Be prepared to make "on the spot" decisions! You should approach each and every property that you view with the notion that if you want it, you'd better make an offer. Going home to "sleep on it" could cause you to lose the property. I've seen it happen repeatedly within the past month.
3) Be serious about your offer amount! Don't approach every situation that a Seller may ask for highest and best in a multiple offer situation. Your first offer should be your highest and best when you're dealing with low inventory and high buyer demand. You may not have a second chance to increase your offer.
4) Listen to your agent!!! Geez Louise...I can't stress this point enough! Your agent has insight into your local market and loads of useful information that will help navigate you through this market and into your dream home. You've hired them for a reason.....use them to the fullest!
Now, don't misunderstand me. Buying a new home is a very fun and eventful experience! However, there's no need to create stress for yourself when it can easily be avoided by following a few steps.