5 Tips to Make a Competitive Offer

5 Tips for Homebuyers Who Want to Make a Competitive Offer

5 Tips for Homebuyers Who Want to Make a Competitive Offer | MyKCM

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and I’d love to work with you on making sure your offers rise to the top along the way.

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts, Rhode Island, and Cape Cod.  Please let me know what questions you may have and how I can be of the best assistance to you.Shortcode

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA, RI, and Cape Cod & Islands Licensed Real Estate Sales Associate
New Homes Team
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
real people. real estate. 

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Serving clients throughout Massachusetts, Rhode Island, and Cape Cod & the Islands.

Boston – Attleboro – Providence – Cape Cod and the Communities in between.

Bidding Wars – Buyers be Ready!

Are you ready to enter on this real estate market?

I have been on the listing side and the buyers’ side of multiple offer situations countless times and believe me, neither are fun.   My recent listing at 53 Turnstone Dr in Attleboro had 40 showing requests in less than 24 hours of being on the market.  One day of showings produced 15 offers from ready and willing buyers by 11:00am the next morning.

It took hours to go through each offer individually as we evaluated the:

  • offer price
  • dates 
  • deposits
  • contingencies
  • personal letters to the seller
  • escalation clauses
  • and mortgage pre-approval and pre-qualification letters.

When sellers review offers, know that the highest offer price does not always “win”.   All of the terms of the offer and buyers’ qualifications must be considered both when writing up a contract as a buyer and when reviewing an offer contract as a seller.

Want to know the three best ways to position yourself as a strong, sought after buyer amidst a sea of buyers and very few listings?

 1. Work with a full-time, experienced, and respected agent who will have the knowledge and reputation to present an offer and “you” in a way that the sellers and sellers’ agent will take seriously.  You want the sellers’ side to feel confident that you are the right buyer.

Buyers need to be prepared

2.  Get pre-approved now!  Do not wait until you find a home to contact a mortgage officer.  Experienced listing agents know the difference between a pre-approval that has been vetted with buyer documentation and a pre-qualification letter that is just based on a phone conversation with a lender.  Good listing agents will always call mortgage officers to make sure the buyers are solid.  It is always in your best interest to use a full time, experienced, and respected mortgage officer and company as well.  Let me know if I can send you some names!!

3.  If you own a home and your home purchase is going to be contingent upon it selling, you need to list your home NOW.  In almost all cases, sellers will move your offer to the bottom of the pile as soon as they see a “contingent upon the sale of buyer’s house”.  Some will consider you if you have a signed P&S on your home, but some will still see that as a risk since they have to worry about you as a buyer and your buyer.  As a back up plan, it may be worth checking with your mortgage officer to see if could purchase your next home without selling your current one first.  If a down-payment is tied up in the equity of your current home, a cash-out refinance may be an option for you.  (FYI – a refinance must be completed before listing your current home or moving forward on a loan application for a new home.)  Best plan… contact your mortgage officer and a contact qualified experienced real estate agent. 

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
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Serving clients throughout Massachusetts & Rhode Island. Boston – Attleboro – Providence and the communities in between.

Reflecting on 2019

2019-2020 Jenn Wood (1)

It’s here… can you believe it is 2020?  Seriously, 1990 is now just as far in the past as 2050 is in the future.  Crazy.   And I can’t believe I have been away from BeHomeBeWell for so long.  I am thrilled to be able to dedicate some time to share here once again.

Reflecting on 2019 I am proud to say that as a Mom I made it through the college application process, FAFSA application process,  final dance recitals, senior prom, high school graduation, and then dropping my daughter off for her freshman year of college – all during one of the busiest and most successful years in real estate I have had.

A huge thank you to all of my amazing buyers and sellers.  I couldn’t have done it without you.

As my clients, you all had very different stories.  Different challenges.  Different motivations.   But, together we go it done, no matter the obstacle.  It was your willingness to collaborate and work towards a solution that lead to so many homes being sold, so many homes being bought, and so many homes being built.  What an honor to have had the opportunity to work with each one of you!

And congratulations on so many of your blessings over the past year!  Engagements, weddings,  babies, new homes, retirements, cancer remission, new jobs, new puppies, exciting home renovations, and even a much needed transplant for a very deserving gentleman.   Just amazing and know I have celebrated all of that with you.

Along with the celebrations there have also been struggles and sadness.  Many lost loved ones, dealt with incredible mental health and medical diagnoses,  had jobs eliminated,  suffered injuries, and faced sudden and unexpected financial difficulties.   Life has a way of challenging us that is for sure.    There were many moments I would cry quietly in my car thinking of all you were enduring … no doubt about it, life is hard.

Sharing your personal journeys and your real estate journeys has allowed me to continue to grow,  learn, and appreciate all of my amazing blessings. Thank you again for allowing me to earn your trust and be a part of making your last real estate move whether buying or selling.   I also wanted to let you know, that once again, as each of your deals closed this year, you made a difference in the lives of children living with serious illnesses and their families.  Jen, Avery, and Zoe Hole In the WallMy family tucked away $100 per closing to donate to an organization very near and dear to our hearts – The Hole in the Wall Gang Camp.  They made all of the difference for us when our daughter  Zoe was diagnosed with brain cancer and they still continue to make a difference today for Avery, Pat, and me as we learn to live as a family of three now.  This year we donated $4000.  We could not be happier about making such a big contribution to such a worthy cause.

Heading into 2020, I wish you much happiness and health in the year to come…

If there is ever anything I can do for you or anyone you may know, please do not hesitate to reach out.

All of the best,
Jen

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
Senior Real Estate Specialist
MA & RI Licensed Real Estate Sales Associate
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate.

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Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

You can own a home!!

Are you wondering if buying a home is a possibility for you?

Do you dream of personalizing a home to your own tastes and lifestyle?

Are you tired of paying your landlord’s mortgage and being limited their rules?

Being a first time home buyer is very exciting – and a little bit scary for some :), but I have an awesome team of experienced professionals who can help get you ready and guide you through the entire process.   I am just a call, an e-mail, or a click away to start your home search so let’s find time to chat about your needs, your wants, and your budget.  In the meantime, here are 3 Tips for Making Your Dream of Homeownership come true…Making Your Dream of Homeownership a Reality

First Time Home Buyers are one of my specialties and I have many satisfied “first timers” who made it through the process.  Happy to make a connection if you’d like to talk with someone who has recently been through a complete transaction from searching on-line to getting their keys at the closing table.  And as they will all attest to, I have lots of stories to share from my vast experience in real estate over the past 20+ years 🙂  Every deal seems to have its own nuances these days, but be assured, I have a solid reputation in the real estate industry, I always have an eye on the big picture while working through the little details, and I am committed to the goals of my buyers and sellers.

 Always happy to be of any assistance to you or anyone you know who is thinking about buying or selling a home. I love to work hard for my clients and your referrals throughout Massachusetts and Rhode Island.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

results that move you.

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Seniors Real Estate Specialist – I am at Your Service!

 As I look forward to another successful year serving all of my clients and referrals, I am so pleased to announce my most recent accomplishment…    

Jennifer McMorran Earns NAR Designation in Seniors Real Estate

Head shot Jen McMorranAttleboro, MA, January 2018 – — Jennifer McMorran with Kensington Real Estate Brokerage has earned the nationally recognized Seniors Real Estate Specialist® designation from the Seniors Real Estate Specialist Council of the National Association of Realtors®.

McMorran joins more than 15,000 real estate professionals in North America who have earned the SRES® designation.  All were required to successfully complete a comprehensive course in understanding the needs, considerations, and goals of real estate buyers and sellers aged 55 and older.

Working with seniors to meet their housing needs requires an expert understanding of their unique lifestyle and financial needs, and the SRES® designation means that a Realtor® has that understanding. Whether they are buying, selling relocating or refinancing, seniors can be confident that Jennifer McMorran, a Realtor® designated SRES®, will be able to help them every step of the way.  As one of the Attleboro area’s top producing Realtors®, she enjoys growing both personally and professionally through each transaction and is eager to put her knowledge and experience to work for her clients and referrals.

Jennifer McMorran is a successful Real Estate Sales Associate with Kensington Real Estate Brokerage.  Licensed in both Massachusetts and Rhode Island, she enjoys serving clients anywhere from Providence to Boston.  She has a true passion for mentoring First Time Home Buyers, guiding clients through New Construction, assisting Seniors in their housing decisions, and partnering with Sellers to get their homes sold.

SRES® Council, founded in 2007, is the world’s largest association of real estate professionals focusing specifically on representing senior clients in real estate transactions. There are more than 15,000 active members of the organization world-wide.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.

For more information, visit SRES.org.

# # #

If I can ever be of any assistance to you, your friends, or your family with any real estate needs,  just to give a call/text 508-930-5259
or e-mail jen.mcmorran@gmail.com.   

I am at your service…

Don’t be scared… get the facts!

Jen McMorran, RealtorMortgages and the home buying process continually evolve and change to meet the needs of the ever changing consumer, adjust to the state of over all economy, and facilitate a strong housing market without becoming irresponsible again.

So, “No”, it is not like when your parents bought a home 20 years ago or even when you friend bought a home 5 years ago.  But knowledge is power.   As long as you know the facts, you too can be on the path to home ownership which most financial advisors still believe is one of the best long term investments you can make with your money.don't be scared to buy a home
Infographic, Keeping Current Matters, October 2017

And of course, educating and sharing the facts is one of my favorite roles as a real estate agent.  Whether I am working with first time home buyers, move-up buyers, empty-nesters, or retirees … the entire transaction moves along smoother when we take as much of the uncertainty and fear out of the process as we can.

Did you know that there are still 0% down payment mortgage programs, 3.5% down payment mortgage programs, and then of course 10%, 20% …  The key is to work with a mortgage professional who will talk you through all of your options.

Did you know you don’t have to have a perfect credit score to qualify?

Did you realized that buying a home can ultimately be less expensive than renting?

Steph and Derrick SoldRemember until you discuss your current situation and goals with a mortgage and real estate professional, you may not have all of the facts.  I am always available as a resource to you, your friends, co-workers, family members… feel free to call, text, 508-930-5259 or e-mail jen.mcmorran@gmail.com any time!!  I only recommend the best when it comes to mortgage professionals, attorneys, home inspectors, etc. as they are essential to successful transactions.  Again, please do not hesitate to reach out if you are in need of a referral or just trying to figure how to start the process.   It’s what I do… share information to help buyers and sellers meet their goals.

Jen McMorran, Realtor

Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Kensington - Jen McMorran

What it takes!

Wonderful-wooded-lot
SOLD!!  36 Pole Plain, Sharon   $348,000

As many of my clients have learned this fall, real estate can be hard work!  There can be so many variables involved in a deal that are tough to predict.  I love to pull up statistics and analyze data, but in the end, data can’t always predict buyer or seller behavior.  After all, it is people we are dealing with when buying and selling homes. And people vary immensely when it comes to their motivations, negotiating styles, and values.

I hear so often from other professionals in my field…
Open houses don’t sell houses.
Print media like newspaper ads and mailings don’t do anything.
Zillow is all that matters.
Social media is the key.
Search Engine Optimization should be an agent’s focus.

IMG_0998.JPG
FOR SALE ~ $214,900

The fact is, we don’t know exactly what will resonate with each specific buyer or seller out in the market place.  When listing your property, my job as a Realtor is to assist you with preparing your home to hit the market and then to expose your property to as many likely buyers as possible.  I need to have a good working knowledge of your property  and understand any objections buyers may have so I can address those with solutions whether immediately or with a follow up call or e-mail. When with potential buyers at your home, I am constantly trying to gauge what aspects of you property or location might be most important to highlight with each buyer through simple questions and careful listening.   Not everyone is able to make a decision right away, that is where my patience and persistence pay off.   And then it is making sure your property is constantly being exposed whether on-line, through print media, or networking with other agents.  My job is to sell your home and I will do what it takes to get it Sold!

I recently worked with Liz and Ed to list and sell their home at 36 Pole Plain Road in Sharon.  So wonderful to assist them as they begin a whole new journey with their family and the testimonial below from them was an added bonus – it truly sums up what I work towards in all of my client relationships.

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And, in case you were wondering, the buyers were a result of coming to two of my open houses!

If you’d like to talk about buying or selling a home, just let me know.  And always feel free to share my contact information (508-930-5259, jen.mcmorran@gmail.com) with anyone you may know in need of assistance.

Jen McMorran, RealtorJennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
(and Antique lover & home owner)
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

www.BeHomeBeWell.com

Kensington - Jen McMorranServing clients throughout Massachusetts.
Attleboro to Boston and the communities in between.

New listings:
Attleboro, 2 bedroom garden style condominium near town & train, $124,900
Attleboro, 3 bedroom uptown Colonial with great backyard, low $200’s
Easton, 2 bedroom end-unit townhouse in Easton Crossing, $214,900

Must see! 29 Regatta Dr, Attleboro ~ COMMUTER OPEN HOUSE, WED (6/29) 5:30-7:00

29 Regatta at dusk

COMMUTER OPEN HOUSE
Wednesday, June 29th, 5:30-7:00
or contact Jen for an appointment (508-930-5259)
29 Regatta Drive, Attleboro

Offered at $419,900

See how wonderful it could be to come home to this beauty!
Relax on the deck, hike through the woods,
play in the cul-de-sac, stroll through the neighborhood,  or sit in front of the fireplace…
a great place to be Home.

Like new 3 BR, 2.5 BA Colonial
1+acre wooded lot
Cul-de-sac, great neighborhood
Just 10 minutes to train and Attleboro Center
Built 2009 and still shows like model home!!

Directions: Slater Street to Mohawk to Woodstock to Regatta Drive

29 Regatta garage and drivewayWhy build when you could move right in to this
gorgeous 3BR, 2.5BA Colonial located at 29 Regatta Drive in Attleboro?

Built in 2009, this well built home offers solid construction, wonderful open floor plan, and beautiful finishes. The first floor boasts gleaming hardwood floors throughout. The kitchen features granite counter tops, stainless appliances, center island and is open to the dining area with sliders to the deck and the living room area. The master suite is stunning with extra windows for light and bright feel, walk-in closet, en suite bath, and tons of space. Need storage? The two car garage, walk-out basement, and huge attic provide ample space for all of your storage needs. Also enjoy gorgeous wooded views, floor to ceiling stone fireplace, tons of windows, recessed lighting, composite deck, new central air system, first floor laundry, sprinkler system, and more!

This home sits on a 1+ acre wooded lot in a sought after spacious cul-de-sac location of a very appealing established neighborhood. 29 Regatta yard and deckTo find us, take Slater Street to Mohawk, then take a left on Woodstock followed by a right onto Regatta Drive. Follow the pretty tree lined street to the end to find this home anxiously awaiting its new home owner. Great retreat for those commuting to Boston or Providence areas with easy access to Attleboro’s new train station and the commuter rail.

All appliances are included in the sale and this home has absolutely been meticulously maintained. Truly, all that is missing is you! 29 Regatta Drive in Attleboro is absolutely one of those rare homes you can just move into and enjoy!

Click this link for more information and more photos… you won’t be disappointed!!

Jen McMorran Head Shot (2)Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
(and Antique lover & home owner!)
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Kensington - Jen McMorranServing clients throughout Massachusetts.
Attleboro to Boston and the communities in between.

It’s Crunchy Asian Coleslaw time!

This salad is a go-to favorite of ours all year long but the recent string of beautiful New England summer days is making me crave it even more!  Blue skies, warm sun, eating outside…. time to bring out some classic summer recipes and we still love our classic Asian coleslaw!!

Crunchy Asian Coleslaw

Crunchy Asian SlawOne of my favorite side dishes … great served with cod, haddock, salmon, chicken, pork, or my kids love it paired with potstickers 🙂 For a main dish, just add chicken and serve. I always make a double batch of dressing, toast up half a bag of almonds, and cut up the whole bunch of scallions then store them in the refrigerator. I can then whip this recipe up in just minutes!

1 3-ounce packet of chicken flavor ramen noodles broken into ½ inch piece
¼ cup rice wine vinegar
¼ cup canola oil
1 Tablespoon sesame oil
¼ cup sugar
½ teaspoon ground pepper
1 ½ cups cubed cooked chicken (optional)
½ cup slivered almonds, toasted (can do in fry pan with some butter)
¼ cup chopped green onion
1 10-ounce bag of broccoli, confetti, or coleslaw (I use half broccoli slaw/half cole slaw)

In small bowl, mix rice wine vinegar, canola oil, sesame oil, sugar, pepper, and I just use half of the chicken seasoning packet from the ramen noodles. Mix ramen noodles, chicken, almonds, green onion, and coleslaw together. Add dressing. Chill 30 minutes turning occasionally. Then enjoy!!!

Jen McMorran Head Shot (2)Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
(and Antique lover & home owner!)
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Kensington - Jen McMorranServing clients throughout Massachusetts.
Attleboro to Boston and the communities in between.

Please let me know if I can ever be of assistance to you. Or, if you know anyone who could use my assistance,  feel free to share my  contact information (Jen McMorran, Realtor ~ 508-930-5259 ~ jen.mcmorran@gmail.com)

 

Another Happy Customer (and Realtor!)

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It is always such a pleasure to close on a home after working with clients for an extended period of time.  Some real estate agents prefer not to work with buyers who are “thinking” or “just starting to look”.  For me, having the time to develop a trusting relationship with clients over months (or even years) is an added bonus.  They understand I am not in real estate for the quick sale and that truly  I care about finding them the “right” home or helping them to sell at the right time. As a small local business woman wanting grow, I need clients to feel comfortable referring me to their friends and family.  Building my real estate business and basing it on my reputation and referrals is so important to me as I’d love to be working  hard as a Realtor in the surrounding communities for a very long time!

Please let me know if I can ever be of assistance to you or if you know anyone who could use my assistance,  feel free to share my  contact information (Jen McMorran, Realtor ~ 508-930-5259 ~ jen.mcmorran@gmail.com)

Jen McMorran Head Shot (2)Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
(and Antique lover & home owner!)
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real estate for real people.

Kensington - Jen McMorranServing clients throughout Massachusetts.
Attleboro to Boston and the communities in between.

The Massachusetts housing market really is still moving along steadily with rates back in the 3’s.  A great time to buy and sell.  First time home buyers, first time home sellers, move up buyers, empty nesters, investors… let me know how I can help you!