Buying a Home in a Seller’s Market
The real estate market is currently extremely competitive. There are more buyers than sellers on the market, making it a sellers? market. This means that sellers have more room to set a price and to hold out for a full offer price. It also means that buyers may have more difficulty finding a house at a reduced price. If you are a buyer, you will want to keep the following realtor find a home tips in mind to ensure that you do not lose out on the house of your dreams because of the current seller?s market.
Keep up to date on homes in the area
While using a real estate agent is extremely helpful in finding a home in a timely manner, it is also important to keep up with the market on your own. Your agent will offer to send you new houses as they hit the market. It is your responsibility to go through those houses and schedule viewings as soon as possible. Waiting even a day or two can reduce your chances at submitting an offer on time. Houses are currently flying off of the market. If you want a chance to be competitive, keep up to date on the homes in your area.
Work with a licensed agent
A real estate agent will be a valuable resource in your home buying process. In fact, 78% of recent buyers found their real estate agent to be a very useful information source. Realtors often have the best resources available when it comes to new homes for sale or homes for rent. If you wait for new homes to be added to public real estate sites, they will likely be sold by the time you view them. For even quicker access to the realtor find a home, request an automatic email. This is an email that is sent once per day with newly listed homes that match your house buying criteria. This means that you don?t even have to wait for your agent to send you the list.
Put in a realistic offer
Seller?s markets leave little for negotiations. Realtor find a home can be a lengthy shopping process. It is also likely that many of the homes for sale are receiving multiple offers. The seller will often go with the highest offer with the easiest closing process. Putting in offers that are too low or that request too much in terms of sellers concessions can harm the offer. If you truly enjoy a house and want to purchase it, put in a realistic offer. Your real estate agent can help you establish a fair and competitive price point.
Be quick
It is not only important to be quick with viewing houses, but also in putting in an offer. Even realistic offers will be rejected if another offer has already been accepted. About 52% of home buyers cited finding the right property as the most difficult part of buying a home. However, taking too long to decide on a home could cause you to lose the house. Later on, when you realize that this is the perfect home after all, it will be too late. Single family homes are the hottest trend in the market. According to Zillow, 83% of buyers are looking to purchase a single family home. Use a realtor find a home to locate the perfect single family home and then put in an offer immediately.
When the selling market is hot, buyers often suffer. They lose out on homes much quicker and may end up paying more for a house that does not even meet all of their needs. You can have better buyers luck in this seller?s market by working with a licensed agent, scheduling showings as soon as they come on the market, putting in a realistic offer, and regularly doing your own search research.
