The "Too-Fast Offer"

"Love at First Sight?" Probably Not

Is there such a thing as a "too-fast offer," especially in a Buyer's market where lots of homes are sitting?

The short answer: actually, yes.

Most Buyers seriously contemplating a home will go through at least twice, just to double-check their first impressions, see it with fresh eyes (vs. 5th on a list of 8 showings), etc.

If they are contemplating major work, a 3rd visit, accompanied by contractors, may even be in order.

So what does it mean when you get word that an offer is coming in barely hours after a first showing?

It could mean that it was "love at first sight," and the Buyer knows all they need to know to make an offer, then and there.

Or . . . . the prospective Buyer is looking a for a deal. A very good deal.

In my experience, such Buyers don't invest much, emotionally or time-wise, in the properties they're scouting because it's all about the price.

If one Seller rebuffs them, they just move on to the next. And the next, and the next. . .

Plodding Pace of Year-End Deals

Hurry Up and Wait

If you're a prospective home Buyer who initiates a deal just before Christmas -- especially if it's a bank-owned property -- you're likely to get everything wrapped up a week into the New Year (if you're lucky -- I've got one in progress now).

If you're a Buyer who initiates a deal after the 1st, you're likely to get everything wrapped up . . . about a week into the New Year (if you're lucky).

Which is a pretty good case for just waiting until after the 1st.

That's especially true for first-time Buyers, who typically have the hardest time waiting to find out if their offer has been accepted, rejected, countered, etc.