With the housing inventory lower than ever, that means more buyers! Whether you’re a first time buyer or fifth, there are always things you can learn from. Here are some tips provided by our agents when it comes to the buying side of real estate in this current market.
Getting started on the buying process
If you are thinking about buying a house, but don’t know where to begin, start by making sure you are ready for it. Our agent Alex Owens says that it’s crucial to be prepared from the start. “Getting fully pre-approved with a local lender, taking time to sit down for a buying consultation to understand this market, and making sure they’re working with a Realtor who is responsive and experienced.” She says that these tips are really important steps to buying a house “in today’s fast-paced and competitive market.”
Writing the winning offer
Our agent Catherine Owens says to write your offer like it’s the resume for your dream job. It’s most likely that your seller will be looking at multiple different contracts, so you want to make sure yours stands out to them. Catherine says, “as a buyer, you want to showcase to a seller that you are THE MOST qualified, MOST COMMITTED option for them to choose.” There are other aspects to your offer that sellers are looking for. Of course the best price is one of them, but there are also other considerations that will catch their eye. Our real estate agent Maggie Harrison recommends providing a contract that is competitive and as clean as possible. “Now isn’t the time to pack your offer up with contingencies, concessions, closing costs, or repairs” she says.
Keep your emotions in check
The home buying process can be a rollercoaster of emotions. Maggie says, “beware of renegade emotions.” There is so much going on in the buying process and having your emotions in check will help you immensely with stress. She says “whether it’s a competitive bidding war or losing out on another house you just KNEW was the one, fight to keep your emotions in check. Stay patient and stay in the game – the right house will come along at just the right time!”
Find yourself the right real estate agent
Here at Malfer & Associates we have over 20 highly qualified agents that can help you on both the buying and selling side of the market. Catherine says having “an agent with strong communication skills provides the best opportunity to seal the deal.” Your agent will be your mediator so you want it to be someone you can trust. Alex recommends finding a real estate agent “who is responsive and experienced.” And lastly, take advice from your realtor since they know the market very well! “Local agents have exclusive knowledge of market opportunities, which will give you an overall advantage” Maggie says.