Strategies for Buying in a Low Inventory Market
April 6th, 2013 at 11:41 am by Terri Aubain
We’ve come a long way since the darkest hours of the bottom of the home market. Now, buyers are finding the competition for homes surprisingly stiff. The days of touring twenty homes and deliberating over the tiniest details have slipped away.
So what can you do to increase your odds at landing a home you can love? Here are a few tips to help as you navigate this increasingly active market:
1. Get pre-approval for a loan before you begin shopping. Browsing without the power to buy is a recipe for heartbreak now.
2. Be clear about the neighborhoods you’re interested in before you shop. Understand what the recent trends have been in terms of sales and competition for those sales if possible.
3. Be prepared to lose out on some homes. Yes, it’s likely that one or two great candidates will get away. Mentally prepare yourself for the possibility of being outbid or not getting an offer written in time.
4. Have your agent familiarize you with multiple offer situations. Ask specific questions about how it works and what to expect.
5. Get cutting edge MLS information and/or information on homes not yet on the market. Hot sheets and inside information on potential new listings can position you for first in line. Work with an agent who has access to the latest information and a solid network of connections in the community.
I’ve seen what it takes to win a great home in a booming market, and would be glad to guide you through the experience. And sellers, this is also a great time to get in touch and list your home!: Terri Aubain 832-262-0894 firstname.lastname@example.org