11 Mar Buyers Resort to Boom-Era Tactics to Find Homes to Purchase
If you’re looking to purchase a home, you have likely noticed that inventory levels are tight everywhere. This has left many interested buyers scrambling in competitive markets, and because it’s a seller’s market, prices are on the rise. In an effort to stand out from the pack, many buyers are resorting to boom-era tactics to appeal to the softer side of buyers.
The most common tactic is to write a heartfelt letter to the seller explaining why they’re the right fit for the house. Sellers say they have seen all kinds of reasons, ranging from the house is the perfect place to raise their family to how happy their dog would be in the backyard. With bidding wars breaking out around California, many buyers are finding that this an effective way to grab a seller’s attention.
Seller’s say that when a prospective buyer writes a letter like this describing why their home is a great fit, it makes it easier to feel comfortable handing over the keys. This tactic seems to work especially well for families with small children who are tugging at the heartstrings of sellers who have kids. After receiving a letter explaining how his home’s spacious layout would be perfect given the imminent arrival of their first child, one seller said, “I felt very comfortable with these people.” The father of a toddler added, “I really wanted this place to go to somebody in a similar situation.”
Buyers are doing anything and everything to create a personal bond with a seller, including sending personal photos as they pitch their situation to a seller. Known as love letters, this is just the latest indication that the housing market is finally on stable footing once again after reeling during a five-year slump.
Home prices continue to rise in markets around the country, and experts say that 2012 is perhaps the first year this has happened since 2006. But as inventory issues continue to be a challenge, buyers have their work cut out for them to find the perfect home. Money doesn’t talk anymore in markets where there are more than enough buyers interested in the same home.