The Real Estate Blog

Is it time to buy? Here's how it works in this market...

September 21st, 2016 11:15 AM by Wendy Thomas

If you're ready to buy, the time is right for you, and you just need some direction, here it is! This is definitely a seller's market, which doesn't mean you shouldn't buy, it just means you need to know how to approach your offer.

Make sure before you begin looking for a house that you have a good, strong pre-approval in hand.  Use a lender that is able to tell you what price range you should look in so that your payment will be where you want to it be and you'll be able to afford it, and they should also be able to give you an estimate of how much your closing costs will be.

1.  The first step-- find a good, aggressive agent.  You need an agent who will watch the market and let you know as new houses come on the market that suit your needs.

2.  Be ready to go look as soon as a new listing that fits your needs come on the market.

3.  If you fall in love with a house, in this market, you have to be prepared to make an offer pretty quickly.  If you don't, someone else will, which will place you in a multiple offer situation or will make you miss out on the property.  There are so few houses on the market right now, buyers are waiting on houses to come on the market and are ready to make an offer as soon as the right house shows up!

4.  Be prepared to bid competitively.  Unless you're buying a house that may need some work, you will need to pay close to if not at or above asking price in this market!  This is not a market where you'll get a steal, but you're still going to get your perfect home, and it'll be worth it! 

The market is always changing! Buyers' motivation for buying is always changing.  You have to be ready to buy in the market you're in, and you can't always get a deal just because that's what you're looking for-- just like sellers can't always make a huge profit just because that's what they want.  Change is constant.  For now, to successfully find and make an offer on that perfect home, follow the steps above and they'll lead you there. 
Posted in:General and tagged: always changing market
Posted by Wendy Thomas on September 21st, 2016 11:15 AM


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