Newsflash: Trying to answer the “How Much Should I Offer” question in a Seller’s market.

Hi everybody, I got the idea of buying a house last week since I need a place to live for my new job (done renting). This means I am very new and probably quite ignorant. Please read what my current understanding is and point out any misconceptions so I can learn and be a smarter buyer.I am going to be looking at 10-20 homes in the next few days. Some of which have been on the market for just a couple of days, some of which have been on the market for a couple of weeks or more.In a seller’s market, good homes fly off of the table pretty quickly, fairly little seller’s become desperate. I’d imagine this means I need to offer at least 95% of the asking price for newly listed homes (past couple of days). For homes that have been up for a couple of weeks, I think I’d be safer in offering 90% of the asking price.I am very interested in researching the sale of similar properties to help influence my offer. It sounds like this can be done on a couple of websites. Is Zillow the best one?Last question: does a seller’s market mean property values are heightened and will soon fall? Are there places that are always a seller’s market? Like major capital cities?Any advice on how to make informed offers in a seller’s market is appreciated.

Read more at https://www.reddit.com/r/RealEstate/comments/bp8qkj/trying_to_answer_the_how_much_should_i_offer/?utm_source=ifttt

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