Q: What strategies should I incorporate for house hunting in a competitive market?
- Know your finances inside and out – what you can afford as well as feel comfortable with as you enter a competitive market where prices are getting driven up.
- Start your home search well below the price point that you can afford. Most homes are selling for above their list price meaning if your search is starting near your max, you’re going to be out-priced again and again.
- Be flexible with your wish list – so many buyers want that perfectly decorated, move in ready home. Think outside of the box and be (at least a little) willing to put in some sweat equity yourself. Those homes might be a little less competitive.
- Work with a reputable LOCAL lender – this is so important. Listing Agents are doing their due diligence in checking over offers for these details. If it’s a random online company or company that isn’t well known, they may be hesitant to move forward with yours.
- Figure out what the sellers want and do that. This isn’t the time to fight for a wine fridge, washer, dryer or the closing date you want. You’re going to have to be the most flexible person ever in this market.
*** Lastly, get yourself a real estate duo, who will tell it like it is, who will calmly guide you through this process, and who truly have your best interest at heart.
If you need us – we are here for you!
