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Competition Between First-time Buyer and Move-up Buyers

We’ve been hearing for several years that that market will turn anytime, then we watch and wait.  Still waiting…


With the shortage of housing inventory remaining at an all time low, especially in the mountain states, the market is experiencing huge competition between first-time buyer and move-up buyers, as their two market shares of homes are blending into one.  What that’s bringing into our northwest Montana market is in increase in multiple offers in the price points around $425,000 and under, and especially those homes under the $400,000 mark.


What can buyers do to help them come out on top?  First, have a current pre-approval letter on hand when you make your offer.  Second, if you see a home you love, don’t hesitate on making an offer, as many homes recently are garnering 3-7 offers within the first day or two of listing.  Third, make your offer as “clean” as possible if there are already offers on the table.  This means shorten up your contingency release dates (if you’re comfortable doing so), don’t ask for a lot of inconsequential stuff, and if you can comfortably pay cash, then do so.


Here’s an informative article that will help you understand what is going on in the market today.


https://magazine.realtor/daily-news/2019/10/09/first-time-move-up-buyers-face-rising-competition


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(406) 871-8760

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