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How Homebuyers Can Win the Bidding War

By ABC News, Nightline, Chris James, Sally Hawkins, Ashley Louszko, and Lauren Effron.

For many, buying a house is the American dream, but these days, snagging a suitable home has turned into an all-out war in some places, with victory often going to the highest bidder.

Experts say housing prices have been steadily increasing and are likely to continue to rise. All the while, interest rates have remained low and new home construction has been lagging, creating a limited supply of available homes. This combination has stirred up a nightmare scenario for many homebuyers and a dream come true for sellers.

“It’s a tough market to be buying in,” said New York real estate guru Barbara Corcoran. “Every buyer’s uncomfortable. If you’re an aggressive buyer, it’s the kind of market that brings the fangs out. If you’re an insecure buyer, it’s the kind of market that’s going to scare the crap out of you.”

“Nightline Prime” followed a few couples who were fighting for their dream home, only to be outbid many times over. But real estate experts say there are some things buyers can do to give themselves a competitive edge, such as including a short letter about yourself in your offer application to the seller.

Real estate agents from Redfin, a national real estate brokerage, put together a “do’s” and “don’ts” list of what potential homebuyers should write in a cover letter when putting an offer on a home.

Below are Redfin’s tips — and watch the full story on “Nightline Prime,” Saturday, April 26 at 10 p.m. ET.

About William Brundage:
Named the Best Realtor by the Oakland Press and also named Real Estate All-Star by Hour Magazine, William Brundage is an industry leading Realtor bringing over twenty years of experience to successfully marketing and selling fine homes and estates. His dedication to his clients and our community places him in the top 1% nationwide. Personalized service and client satisfaction are paramount. William is committed to getting you the best price and terms in the shortest amount of time.

Cell: 248-980-2455

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