How to Win in a Red-Hot Housing Market

Whether you’re a buyer or a seller, these strategies will help you get the best deal.

Illustration of a crowd of people outside a house for sale
(Image credit: Illustration by Iker Ayestaran)

Laura Gross knew that she’d be facing fierce competition this spring when she was getting ready to bid on a four-bedroom house in Troy, Mich., a suburb of Detroit. So she pulled out all the stops: She waived an appraisal contingency, offered $30,000 above the home’s $285,000 list price, wrote a letter expressing why she loved the home (it reminded her of the house she grew up in a mile away), and offered the seller a free 60-day rent-back.

The seller chose Gross’s offer over seven others. “I knew I had to offer above list price and waive con­tingencies to even have my offer considered in this market,” says Gross, an accounting manager at a manufacturing company.

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Daniel Bortz
Contributing Writer, Kiplinger's Personal Finance

Daniel Bortz is a freelance writer based in Arlington, Va. His work has been published by The New York Times, The Washington Post, Consumer Reports, Newsweek, and Money magazine, among others.