2021 craziness is back in 2022 so be prepared as a buyer for the wild ride.  House offers 10, 20, 30,000 or more above asking are being seen, once again, pushing real estate values higher than many buyers can afford.  What can you do?

  • Work with a Realtor that knows how to write strong offers and knows the market.
  • Think about waving home inspections and bring a contractor with you instead that can point out any visual issues. (I'm not a big fan of waving HI's but people are doing it)
  • Can you come up with a higher deposit or down-payment?
  • Think about looking in Not-So-Busy area's for a home.  Sometimes going a bit further out in the hillside can make a difference in some communities. aka.. be willing to commute.
  • Can you borrow from your 401k to pay cash and then refinance the home to put it back in?
  • Are you willing to pay over appraised value?  If so, you'll need cash to do it.  Do you have it?
  • Can you get qualified for a conventional loan instead of FHA or VA.  Both of those loans are at a disadvantage in this market.

If you must have a home you will be asked or forced(by other offers) to make offers you normally would not.  Welcome to 2022.  

Mark Gilbo

NY Lic RE Broker