News & Info
I’ve been in the real estate business a long time and have never seen such a hot market as our market in Bozeman, Montana. People want to live in Bozeman and there is definitely a shortage of homes. It seems that buyers are coming into Bozeman from all over the country and a lot of them have cash without the need for financing. For buyers that still need financing it can be challenging to compete with cash buyers on the limited inventory that we currently have. One way to compete with cash buyers is to increase the earnest money deposit and making the deposit non-refundable after a certain date. Another new strategy that we see is writing an escalation clause into the offer. For example, we might write an offer for $600,000 with an escalation clause to automatically increase our offer $1,000 above the highest offer the seller has received up to $610,000.
Are looking for a home in Bozeman, Montana? It will take extra effort right now because of the high demand and low inventory of homes. The good news is that our city is worth the extra work necessary to find your next home. First, you should sign up for immediate email alerts so when a new listing is placed on the Big Sky Country MLS you will be notified. Next, you will need to check emails regularly so when a home comes on the market you will be ready to go look at it. Finally, you will need to be creative in the offer to make it stand out from the crowd. If you are an out of state buyer you can ask your agent to do “Face Time” showings so that you can be ready to act if the right house comes on the market. If you are ready for expert real estate help we are standing by and ready to help you find, negotiate and close on your next home in Bozeman, Montana.
With a hot market like Bozeman it is common for sellers to receive multiple offers. As a buyer you will want to make sure you have a pre-approval letter from a mortgage broker or bank to include with any offer that you submit on a home. At House of Bozeman Realty we are happy to refer mortgage brokers to our buyers that have helped our previous buyers successfully close on homes in Bozeman.