We have dozens of “Pre-Approved” buyers who have been on a house-hunt for months and months. Most of them are all too determined to get a bargain, thinking that there is little competition and that sellers are desperate. They are clearly wrong, as we write “Pre-Approval Letter” after “Pre-Approval Letter” for these buyers, and they continuously get outbid at the lower end of the market (below $350,000).
Our recommendation to these buyers is to bid aggressively and to not fret about a few thousand dollars here or there, or you will not get your bid. Below is an exact quote we got this week from a totally exasperated house-hunter in the Tracy, Ca area:
“I’m telling you, this has been the most frustrating thing we have ever tried to do!!” We have put more offers on more homes than you can imagine, only to be out-bid time and time again!”
This is the quote of our times. If only we could get all of our “shoppers” and “deal chasers” to talk to the woman who sent the above email/quote, I imagine a lot more of them would start submitting winning bids.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167