Kyle Sasser, Tampa Bay Realtor with Keller Williams St Pete

Buying a house in this market?

Your Questions Answered

At SasserGroup, I firmly believe that an educated home buyer or seller is best equipped to make their own decisions. That’s why I take time out of my day each and every day to answer someone’s real estate question.  And, when I think the answer can be useful to you as well, I share it here.  So without further ado:

Question:

Should I even try and buy a house in this market?

Currently, we are in a mixed market. Meaning that after the preceding months of hard price increases, we are now in a leveling period. Stats are backing this up as well.

That said there is still a lot of demand. It will take 6-12 months for this current trend to solidify… if it continues. But for the time being there is an opportunity to negotiate a few homes now, as things are hanging around for a bit longer as long as the home is not an A-class property (great location, tons of features, fully renovated). But A-class properties are *always* in high demand.

Even in the peak, I think the most offers I made before having one accepted was about 4, and that’s including VA loans. There are things and ways to go about finding a home and presenting an offer to help put your best foot forward no matter what the circumstances. People talk about submitting 12-20 offers before getting one accepted but that to me is madness and showed a misunderstanding of market conditions.

The biggest secret is deciding on a home you will love for years. Don’t shop for a “deal” as that’s a recipe for being miserable. Deals are for investment properties because they almost always include huge compromises of some sort. Find the best home you can within budget in an area you love.

That said there is still a lot of demand. It will take 6-12 months for this current trend to solidify… if it continues. But for the time being there is an opportunity to negotiate a few homes now, as things are hanging around for a bit longer as long as the home is not an A-class property (great location, tons of features, fully renovated). But A-class properties are *always* in high demand.

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