Arlington’s Other Battle Ground

We all know Arlington’s history as a Revolutionary War battle ground, but it seems there’s another kind of feud taking place on our streets – real estate bidding wars.

If you didn’t catch it, the Boston Heraldwrote an article, Bidding Duels Rife in Boston Suburbs. With an Arlington home as the focus, it’s clear that we are on the front lines of the home selling action.

Look closely at the sign in the picture and you’ll see the Bowes Real Estate SOLD sign. As the listing agent for this property, I can tell you that SOLD signs are popping up everywhere, open houses are hopping, and just like the home on Bellington, Arlington homes are selling fast.
  
As you may already know, there are a few reasons for this significant uptick in real estate activity. First, interest rates have been the lowest in history, rents have been rising, inventory levels are still relatively low, and there is still a backlog of buyers that are getting off the fence and into the game. High demand and low supply is bound to cook up some competition.

So what does this mean for buyers? I say, this is no time to wave the white flag. More and more homes are coming on the market every week. Attend as many open houses as you can. The more you see, the more confident you’ll be in deciphering warning signs vs. potential, a money pit vs. a hidden gem.

With proper preparation – review your credit scores, get a mortgage pre-approval, understand what you can afford, find a reliable and experienced agent – and most of all patience, you’ll be ready when the perfect home comes along.

Because luck is what happens when preparation meets opportunity (Seneca).