Buying a home? Wait two weeks
Buyers have an opportunity this spring to get a good deal on a new home.
While there is no “glut” of inventory in the downtown neighborhoods, the number of listings is high, meaning sellers will have to either be willing to negotiate or have something to offer unique from the competition, if they want to sell, now.
Working against you as a buyer, the number of new listings in Boston Proper has dropped down toward, over the past couple days. Meaning, if you are a buyer, I think what you see out there today is what you’ll have to choose from.
If the property you like today is still on the market on May 1, I suggest making your best offer, then. Say, 10% less than full-asking. See what the seller thinks. If he/she comes back at 1% less and it’s not a “must-have”, let them sweat. If they come back at 5-7% off, take it. Close the deal by May 10.
Don’t wait too long. Other buyers will be doing the same thing. Buyers who are committed to buying this spring will want to get the best deal, and want to get a home under agreement by May 1-10 and closed by June 1-15. You’ll be competing against them for the “good” stuff.
