Tag Archives: #todayrealestate

What Does the Rest of 2022 Hold for the Housing Market?

If you’re thinking of buying or selling a house, you’re at an exciting decision point where timing can be crucial. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue…This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”

  • As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
  • As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.

Here on Cape, there has been a very modest, but steady increase in new listings this year. In January, there were 209. In April, there were 375. For some perspective, there were 629 new listings in April 2019 and we had 5.8 months of housing inventory.

Commenting on social media last week, Ryan Castle, Chief Executive Officer of the Cape and Island Association of Realtors, reported that “162 of 223 properties that became available over the last two weeks are still for sale.”

Cumulative days on the market before sale (YTD) is 36 seeming to indicate that not every property is selling in a day. Just a few years ago, days on market for well-maintained and appropriately priced homes could number in the months.

Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures

Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First Americansays: “…ongoing inflationary pressure remains likely to push mortgage rates even high in the months to come.”

  • As a buyer, work with reputable lenders, so you can learn how rising the mortgage rate environment impacts your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
  • As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to us and we can give you some advice on timing your move based on our own experience.

Home Prices Are Projected To Continue To Increase

Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Given the extremely low inventory, we’re unlikely to see prices decline, but appreciation should slow in the coming months.”

  • As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
  • As a seller, price appreciation is great news for the value of your home. Again, you can take advantage of our experience to find the best way to strike the right balance for both selling your house and buying your next one. (We just did that!)

On Cape, the median sales price for a single family home (TYD) is up 12.5% to $675,000.00. In April 2019, it was $420,000.00.

But, the percentage of original list price received (YTD) is 101.1% suggesting that the days of head scratching offers may be fading. (Although there will always be exceptions.) In 2019, percentage of list was 92.9%. Back then asking price was the best you could hope for, not the starting point as it often is today.

Thinking about making your move? We’d be happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com. It’s important that you have the most accurate information to make the best decision for you.


…and speaking of making your move, today (Monday) is moving day for us. We closed on our new condo this past Wednesday and have used the last several days to finish packing up our house where we have lived for the last 28 years and bringing in painters, etc. to our new place. We close on our “old” home this coming Wednesday,

We’ve been chronicling what we’ve been doing in a series called “Mari Makes the Move” that you can find on our YouTube channel Mari Sennott Plus and on many of our social media platforms.

We’ll let you know next week how it all went…

Mari and Hank

What Every Homeowner Needs To Know About a Recession

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession. If true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is a significant decline in economic activity spread across the economy. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in expansion.”

To illustrate that home prices don’t fall every time there’s a recession, let’s take a look at the historical data. There have been six recessions in this country over the past four decades.

As the graph below shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when the economy slows down, it doesn’t mean home values will fall or depreciate.

The One Thing Every Homeowner Needs To Know About a Recession | MyKCM

The first occasion on the graph when home values depreciated was in the early 1990s when home prices dropped by less than 2%. It happened again during the housing crisis in 2008 when home values declined by almost 20%.

Most people vividly remember the housing crisis in 2008 and think if we were to fall into a recession that we’ll repeat what happened then. But this housing market isn’t a bubble that’s about to burst. The fundamentals are very different today than they were in 2008. So, we shouldn’t assume we’re heading down the same path.

The housing crisis in 2008 was caused by too many homeowners being over-leveraged and having little or no equity in their properties. They found themselves “under-water” when their balloon mortgage payments exploded. That’s simply not the case today. According to ATTOM Data Services 41.9% of all mortgaged homes have at least 50% equity.

As long as inventory remains tight and demand strong, prices will continue to be high. They may level off, but are not expected to decrease in any significant way.

For buyers your bottom line is this: you’re paying somebody’s mortgage. It can either be yours or your landlords.

For potential sellers don’t wring your hands and ask “But, where can we go?” Ask yourself what we’ve always asked ourselves when we decided to make a move: “Where do I want to go?”

That’s what we did and we’re closing on the sale of our home and buying a new one within the next few weeks.

Curious about your options? We’d be happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com.

It’s important you have the correct information to make the best decisions.

Mari and Hank

How Homeownership Can Help Shield You from Inflation

If you follow the news, you know about inflation. You’re also likely feeling its impact in day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to be sure that they’re still worthwhile.

If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that come with inflation.

Homeownership Offers Stability and Security

Investopedia explains that during a period of high inflation, prices rise across the board. That’s true for things like food, entertainment, and other goods and services, even housing. Both rental prices and home prices are on the rise. So, as a buyer, how can you protect yourself from increasing costs? The answer lies in homeownership.

Buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost. If you get a fixed-rate mortgage on your home, you lock in your monthly payment for the duration of your loan, often 15 to 30 years.

James Royal, Senior Wealth Management Reporter at Bankrate, says that a fixed rate mortgage allows you to maintain what is probably your largest monthly expense at the same level. While property taxes will rise and other expenses related to your home will creep up, your monthly housing payment will remain the same.

In other words, no calls from the landlord telling you that your rent is going up – again.

Use Home Price Appreciation to Your Benefit

While it’s true rising mortgage rates and home prices mean buying a house today costs more than it did a year ago, you still have an opportunity to set yourself up for a long-term win. Buying now lets you lock in at today’s rates and prices before both climb higher.

In inflationary times, it’s especially important to invest your money in an asset that traditionally holds or grows in value. The graph below shows how home price appreciation outperformed inflation in most decades going all the way back to the seventies – making homeownership a historically strong hedge against inflation (see graph below):

How Homeownership Can Help Shield You from Inflation | MyKCM

So, what does that mean for you?

Experts are saying home prices will continue to go up thanks to the ongoing imbalance in supply and demand. Once you buy a house, any home price appreciation that does occur will be good for your equity and your net worth. And since homes are typically assets that grow in value (even in inflationary times), you have peace of mind that history shows your investment is a strong one.

Curious about your options? Let’s connect at 508-360-5664 or msennott@todayrealestate.com to review a plan for you to buy and/or sell.

…and remember. We know of what we speak. We’re selling and buying now, too. Check out our series “Mari Makes the Move” on our YouTube Channel, Mari Sennott Plus.


We hope to see you this Saturday from 9am to Noon at the Today Real Estate parking lot at 299 Cotuit Road in Sandwich, where you can safely dispose of your important documents. Great White Shred will be there to shred your valuable paperwork that contain personal information.

Stephanie (Viva) in the Morning from 102.3FM will be there spinning your favorites and we’re joining with Kristi Sassone from First Home Mortgage to provide Cape Cod Coffee and donuts.

Limit of ten boxes of material to be shredded, please.

See you there!

Mari and Hank

How To Approach Rising Mortgage Rates as a Buyer

Rising interest rates was one of the topics at our company staff meeting this morning.

You’ve probably noticed that the average 30-year fixed mortgage rate from Freddie Mac has inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead.

We heard stories this morning of potential buyers losing out on purchases, because rising interest rates made the property unaffordable for them. One colleague reported having three sales fall apart for the same moderately priced home because of the increase in rates.

If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

How Rising Mortgage Rates Impact You

Mortgage rates play a significant role in your home search. As rates go up, they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. Here’s an example of how even a quarter-point increase can have a big impact on your monthly payment (see chart below):

How To Approach Rising Mortgage Rates as a Buyer | MyKCM

With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of delaying your plans, today’s rates should motivate you to purchase now before rates increase more. Use that motivation to energize your search and plan your next steps accordingly.

Curious about your options? Let’s connect at 508-360-5664 or msennott@todayrealestate.com so you can better understand your budget and be prepared to buy your next home before rates climb higher.

It’s important to have the correct information to make an informed decision.


In some personal news, after 28 years we’ve decided to sell our two story Cape and downsize for many of the reasons we have written about in this blog. The house is too big; we don’t use every room. Stairs are starting to become a bit of an issue. We’re depending on landscapers, plumbers, painters and others to tend to basic maintenance.

Because we have been neither buyers or sellers in quite some time, we’ve started a series of videos called “Mari Makes the Move” on our YouTube channel to share our experiences and hopefully offer you some helpful tips. Please subscribe to the channel to follow our journey. Thanks…

Mari and Hank

How Buyers and Sellers Can Use Tax Refunds

Getting a tax refund for 2021? As a potential buyer or seller the money you receive can help you achieve your goals.

SmartAsset estimates the average American will receive a $2,897 tax refund this year. In Massachusetts that number is about the same at $2,834.00.

So, if you are getting a refund this year, here are a few tips to help with your home purchase or sale.

How Buyers Can Use Their Tax Refund

According to American Financing, there are multiple ways your refund check can help you as a homebuyer. A few include:

Growing your down payment fund – If you haven’t started saving for your down payment, let your tax refund kick off the process. And if you have a fund already, the money you get could put you closer to your goal.

Paying for your home inspection – Your home inspection can save you a lot of headaches down the road by helping determine the condition of the house. As a buyer, you’re responsible for paying for your inspection, and it’s definitely worth the investment.

Saving for closing costs – Closing costs are additional expenses you’ll need to pay once it’s time to close. They average  between 2-5% of the purchase price of your home.

This list is a great start, but it isn’t exhaustive of all the costs you may encounter as you set out on your homebuying journey. The best way to prepare is to be sure you understand what’s to come in the process.

How Sellers Can Use Their Tax Refund

If you own a home and are planning to sell this spring, your tax refund can help you make sure your home is ready to list. Here are a few ways current homeowners can put their tax refund to good use:

Making small upgrades – NerdWallet provides a list of great ways to use your tax refund, including tackling small projects or boosting your curb appeal to help your home stand out.

Making repairs – If there’s anything in your house that needs to be fixed, American Financing notes that completing repairs is another great use of that money. But, before doing any work, please check with us. We can tell you what improvements will be worth your investment and which ones aren’t worth the money.

Buying your next home – Whether you’re selling to move up or downsize, you can use your refund to help pay for any costs for the purchase of your next home.

Funding your home purchase or sale can feel like a daunting task, but it doesn’t have to be. Your tax refund can help you reach your goals. Let’s connect at 508-360-5664 or msennott@todayrealestate to discuss how you can start your journey.

It’s important that you have the right information to make educated and informed decisions.

If your children or grandchildren are home for school vacation, we hope you enjoy the time with them!

Mari and Hank

Balancing Wants vs. Needs

Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs.

Danielle Hale, Chief Economist for realtor.com, explains it like this:

“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.”

So how do you go about creating your list of desired features? The first step is to get pre-approved for your mortgage. Pre-approval helps you better understand your budget, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s too far out of reach.

Once you have a good grasp of your budget, you can begin to list all the features of a home you would like. Here’s a great way to think about them before you begin:

  • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
  • Nice-To-Haves – These are features that you’d love to have but can live without. Nice-To-Haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender (examples: a second home office, garage, etc.).
  • Dream State– This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.).

Finally, once you’ve created your list and categorized it in a way that works for you, review it with trusted real estate advisors like Mari Sennott Plus, who live and work on Cape Cod. Engaging your uncle’s best friend’s son who lives north of Boston and just got his license is not necessarily the best move.

As local realtors, we’ll be able to help you refine your list further based on our market; coach you through the best way to stick to it, and find a home on Cape that meets your needs.

Let’s connect at 508-360-5664 or msennott@todayrealestate.com so we can get started.


With spring cleaning comes a stack of important documents that you probably shouldn’t put in the trash or recycle. But, what to to? We have the answer.

We’ll have a truck from Great White Shred available from 9:00am to Noon in the parking lot of Today Real Estate, 299 Cotuit Rd., on Saturday, May 7, for you to safely dispose of your important documents. With identity theft being a major concern, please take advantage of this opportunity.

We hope the Easter Bunny is good to you!

Mari and Hank

The Best Week to List Your House Is Almost Here

Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon.

According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says:

“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

If you’ve been putting your move on the back burner waiting for the ideal time to sell, you should know your golden window of opportunity is coming up. If you’re able to get your house ready quickly, here’s what you can expect from that week.

You Should See More Buyer Activity

The article expects higher buyer demand based on what’s happened in previous years. This could result in increased competition among buyers and ultimately a bidding war over your house. And since mortgage rates recently ticked up over 4%, chances are good that analysis is right. When rates rise, experts say buyers often hurry to make their purchase before rates climb higher.

In addition, the week of April 10-16 includes Easter Weekend. We know this is a busy time on Cape with many families here visiting relatives.

Your House Should Sell Quickly

Additionally, the realtor.com analysis shows houses sell even faster during this week of the year, likely due to the heightened buyer demand. If you work with a trusted real estate professional to price your house right, it should sell quickly. With homes already selling in just 18 days according to NAR, that could set you up for a big win.

Your House Will Be in the Spotlight

Since the beginning of the year, the number of homes available for sale has been at or near record lows. According to the realtor.com study, the typical trend for this week of the year is that there will be even fewer sellers on the market. If you list when inventory is low, your house will be the center of attention for eager buyers craving options.

If you’re ready to move fast, you may want to shoot for April 10th-16th as your target goal. Just remember, even if you’re not ready to list within the next couple of weeks, rest assured this is still a hot sellers’ market. If you list later in April, you’ll still be in the driver’s seat.

Bottom Line

Thinking that now’s the time? Ready to get the ball rolling? Let’s connect at 508-360-5664 or msennott@todayrealestate.com to schedule a time to go over your next steps.

In the meantime, make a checklist of things you need to tackle to get your house ready. When we get together, we can prioritize your to-do list and get you on the road to success.

It’s important that you have the right information to make an educated and informed decision.

Talk soon…

Mari and Hank

What You Can Expect from the Spring Market

With the spring housing market underway, many of you are probably curious about what you can expect when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, the housing market seems to be relatively immune from the impacts of the war in Ukraine, rising inflation, and the first rate increase from the Federal Reserve in over three years.

Here’s a look at what the real experts say you can expect this spring.

1. Mortgage Rates Will Climb

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says: “The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of they year.”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

2. Housing Inventory Will Increase

There may be some relief coming for buyers searching for a home to purchase.

 Realtor.com recently reported that the number of newly listed homes has grown for each of the last two months. Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

On Cape Cod, there were a little over 200 new listings in January. In February that number was over 400. While that’s not close to normal inventory, it is trending in the right direction.

Anecdotally, our colleagues at our Today Real Estate company wide meetings seem to be talking more about new listings than they have in a while.

If you’re a buyer and have been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right one.

If you’re a seller, listing now instead of waiting for additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

3. Home Prices Will Rise

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong.

As realtor.com explains in their most recent Housing Report: “During the final two weeks of the month, more new sellers entered the market than during the same time last year…However, with millions of millennials at first-time buying ages, housing supply faces a long road catching up with demand.”

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Maesays: “What I will caution against is making the inference that interest rates have a direct impacting on house prices. That is not true.”

Freddie Mac studied the impact that mortgage rates increasing by at least 1% had on home prices in the past. Here are the results of that study:

What You Can Expect from the Spring Housing Market | MyKCM

As the chart shows, mortgage rates jumped by at least 1% six times in the last 30 years. In each case, home values increased.

So again, if you’re a first-time buyer or a repeat buyer, waiting to likely means you’ll pay more for a home later in the year (as compared to its current value).

Bottom Line

Three things seem certain going into the spring housing market:

  1. Mortgage rates will continue to rise.
  2. The selection of homes available for sale will modestly improve.
  3. Prices will continue to appreciate, just at a slightly slower pace.

Curious about your options? We’re happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com.

It’s important that you have the right information to make an educated and informed decision.

Enjoy your week…

Mari and Hank

Is This Really the Year to Buy a Home?

Every year, many renters ask themselves the same question: Should I continue renting, or is it finally time to buy a home? 

On Cape Cod, if you’ve been lucky enough to find a place to rent, chances are you’ve asked yourself this question at least once lately, as it’s likely your monthly housing costs have risen. After all, according to Census data, rents have gone up consistently for decades.

If you’ve been looking for an affordable place to rent, you know how difficult that is. You may be wondering, if purchasing a home is a better plan.

To make an informed and powerful decision about buying a house, the first step is understanding what’s happening in today’s market, so you can determine which option is the better long-term financial decision for you.

Rents Are Going Up Again This Year

Make no mistake, rents are skyrocketing.  Data from realtor.com shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year:

Are You Wondering if This Is the Year To Buy a Home? | MyKCM

The Fair Market Rent (FMR) for the Cape/Barnstable County for a two bedroom home this year is $1,879! (That could be a pretty decent mortgage payment.)

In 2021, the FMR was $1,667.

Homeownership Offers Stable Monthly Costs

One of the key benefits of owning your home is that you’re able to lock in and stabilize your payments for the duration of your loan. That’s not the case when you rent.

With rents on the rise, there’s a good chance many people will see their costs increase even more this year. As Danielle Hale, Chief Economist at realtor.comsays: “With rents already at a high and expected to keep going up, affordability will increasingly challenge many Americans in 2022.”

So, if you’re ready to become a homeowner, continuing to wait may not make financial sense. Instead, you can escape the cycle of rising rents and enjoy the many benefits that come with homeownership.

Starting your journey can pay off significantly. We know it’s a big step. And you probably have well-meaning relatives and friends advising you to not make a move. But, by continuing to pay rent, all you’re doing is paying your landlord’s mortgage.

Have questions about whether this if your time? We’d be happy to answer them. Let’s talk at 508-360-5664 or msennott@todayrealestate.com.

We can also refer you to a number of reputable lenders, who can give you excellent advice about your financial options.

In addition, you can receive a copy of our e-guide for Home Buyers, which is available by clicking here.

It’s important that you have the right information to make an educated and informed decision.

Happy Spring!

Mari and Hank

Multiple Offers Are the New Normal

If you’re thinking of buying a home right now, you know very well that the number of houses available is limited. As a buyer, low housing supply coupled with high buyer demand means you should be prepared to navigate a highly competitive market where homes sell fast and receive multiple offers. 

In a bidding war situation, doing everything you can do to get ahead of the competition is your best move. That’s because when you find a house and submit an offer, it will likely be up against other strong offers from other buyers.

According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), homes today are receiving an average of 3.9 offers nationally. That’s the most offers we’ve seen in January for the last 5 years (see graph below):

How To Navigate a Market Where Multiple Offers Is the New Normal | MyKCM

Over the last few weeks, homes on Cape Cod have been receiving more than the national average of offers. In the last few days, one Sandwich home received 10 offers and sold for significantly above asking price. Anyone waiting for the Open House was out of luck. They were cancelled.

To help you navigate bidding wars with multiple offers, working with a real estate professional is important. They know what has worked for other buyers and what sellers are looking for. They can help you prepare when it comes time to making an offer. Here are three tips to keep in mind that will help you make the best offer possible.

1. Know Your Numbers​

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a reputable lender so you can be pre-approved for a loan. Pre-approval shows sellers you’re serious, which can give you a competitive edge. As a practical matter, an offer that is not accompanied by a pre-approval letter receives scant attention, if any at all. Offers that are all cash need to provide proof of funds.

You should also realize that making an offer at the home’s asking price probably won’t be enough. In just about every situation, asking price is now the starting point for negotiations. So, submitting a low ball offer to “see what happens” is a waste of time. (Unless the house needs to be totally gutted. But, even then…)

2. Be Ready To Move Fast​

Speed and the pace of sales are contributing to today’s competitive housing market. When homes are selling quickly, it’s important to stay on top of the market and be ready to move. Stay up to date on the latest listings and if you find the home you want to buy, submit your best offer as soon as possible.

3. Make a Strong, but Fair Offer​

​When you’re up against others, presenting your best offer from the start is key. Submit a strong offer and use whatever leverage you can to make it as enticing as possible. One option is to wave some of your contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Just remember there are certain contingencies you may not want to give up, like the home inspection. But, there are ways to make a home inspection enticing.

Curious about your options? Let’s connect at 508-360-5664 or msennott@todayrealestate.com. We’re happy to answer your questions.

It’s important that you have the right information to make an educated and informed decision.

Have a good week…

Mari and Hank