There are a few telltale signs that you’re in a hot real estate market. Homes are selling quickly, and for above the asking prices, sellers are entertaining multiple cash bids, and there are relatively few homes on the market.
These signs and more tell us that the country is shifting toward a seller’s market, and the Palm Springs real estate market is no exception. The Palm Springs real estate market has always enjoyed some popularity thanks to the beautiful weather, stunning homes, and abundant luxury amenities. Still, now things are beginning to heat up.
So, your work is cut out if you’re looking to buy a home in Palm Springs or anywhere in the Coachella Valley real estate market. You may already have experienced the frustration of seeing a promising home disappear off the market as soon as you see it or having your bid beaten by another buyer at the last minute.
Here are some tips for buyers in Palm Springs’ sellers market to make the whole process easier.

1 - Be Ready to Act

One of the defining features of a competitive market is that homes move quickly. They may only be on the market for a day or two. As such, you should be prepared to move with certainty when a house matching your criteria comes on the market.
This is why it’s important to research so you know exactly what you’re looking for. This allows you to act confidently and quickly. This attitude will get you to the negotiating table early (potentially beating out rival buyers) and tell the seller that you’re a serious prospect.

2 - Get Your Finances In Order

When it comes to competition in a hot market and getting your offer accepted, money talks.
If you can come to the negotiating table with pre-approved financing, or better yet, a cash offer and proof of funds, then at least you'll have your foot in the door.
Next, no low-balling, counter-offers, or hard bargaining. They call it a "seller's market" for a reason - it's because the sellers get to call the shots, so play accordingly. Now, how much you can afford and think about putting in an initial offer that is above asking but below your limit (obviously). This will send the message to the seller that you mean business.

3 - Don’t Be So Demanding

Part of making a strong offer is reducing the conditions that might allow you to back out. If you look at it from the seller’s perspective, they should be more motivated to deal with someone if they’re more confident that the deal will eventually go through.
So, when putting together your offer, try to include as few demands or contingencies as possible. Of course, you should protect yourself, but even waving the right to something like an inspection can make your offer very enticing.

4 - Hire A Realtor®

There are a lot of ins and outs, many what-have-yous and strands to maintain in any real estate deal. An expert agent has the experience and knowledge to stay limber throughout this process, keeping you up-to-date with new information and tips on dealing with sellers.
An agent can also keep an eye out for the exact property you’re looking for, even before it hits the market, so you can act with the kind of timing that a competitive market requires.

Get in touch with an experienced local agent like me - Geoffrey Moore!

5 - Make It Personal

As you might have noticed, a lot of the steps to having your offer accepted in a competitive housing market come down to what signals you're sending the seller.
Are you a serious buyer?
Are you someone they want to deal with?
Can you be trusted to go through with the deal?
To this end, you should be personable, consistent, and open.
Many people have sentimental attachments to their home, and feeling that they're transferring it to someone who cares as much as they do can have an important psychological impact on anyone selling their home.
Also, make sure to communicate your flexibility concerning the seller's plans. Selling a home can be difficult when there is not only a home sale to deal with but also potentially a home search and a move. So, try understanding and tell the seller you will work around their schedule.


So, if you're taking the plunge into Palm Springs's hot real estate market, make sure to follow these steps and take on the services of an experienced agent to learn some more vital steps to getting your final offer accepted so you can finally buy the Palm Springs home of your dreams.

Want to learn more about the available Palm Springs homes for sale? Get in touch with me and I'll be your local guide to everything that's related to the Palm Springs real estate market.

Posted by Geoffrey Moore on


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