Right now we are in a hot sellers market which is fabulous if you are planning on selling, but challenging when you are looking to buy.
Interest rates are at an all time low, rents are very high and inventory of properties for sale is extremely low. These are just some of the things that are driving are current market.
Now lets talk about what to do to be prepared as buyers in this current market to help you find your perfect home.
First you must be pre approved. I can not stress this enough. Go to your banker or mortgage broker and get their assistance. Ensure you take the steps to get a pre approval in your hand on paper. You will then know how much you can afford, what your interest rate will be, and what your monthly payment is. They will typically secure this quote for 90 to 120 days. We are currently experiencing a market where we are getting multiple offers on properties. When you know exactly what your financing limit is this will put you a step ahead of your competition. You can more confidently put in your offer and make it a firm offer which is appealing to the seller.
Second be prepared to jump on houses. Some houses are selling in just a couple of days of being on the market. When you find a home that interests you , after reviewing the details and looking at the photo’s CALL ME ASAP to view it. In this market we do not have time. If you are unavailable to view it quickly just let me know. I can go for you and show you the home virtually via a video tour.
Third when we go through the offer process please know this is a sellers market and there are many people competing for the same property. Please do not think you will be getting “a deal”, this is not the year for it. I am seeing houses going for $20,000, $50,000, $75,000 over asking price with 4 plus offers. What we need to do is look over sold prices of comparable properties, speak about a putting in a “firm or cash” offer since you have already qualified for financing.
Please do not get discouraged. It may take some time and we may have to write a couple of offers but we can find you a home. I have experience in these situations and we will get their working together.
Contact me to get set up to view new listings as soon as they are on the market.