Can I buy in a seller’s market?

What is a seller’s market, anyway?  A seller’s market means that the real estate market favors the home seller, not the home buyer.  If you have been waiting to sell your home, wait no longer.  Now is the time.  But, if you have been waiting to buy a home,the process may be a bit tricky.  Do not despair!  We can help!  Here are a few tips to help you buy your new home!

One, be ready to buy!

Make sure that you have your financial information ready and complete.  You will need to know how much you can spend.  In addition, how much you can borrow, and how much money you need to put down on a house.  Talk to your lender and have this information ready to give to your licensed real estate agent.  He or she will then be able to direct you to homes that you can afford.  Also, they will find you homes that fit your wish list.

Two, be prepared for a fight!

Since there aren’t enough homes to supply all of the potential buyers, you need to be ready to fend off all comers!  Once you find a home that you would like to offer on, you and your realtor need to agree on an offer.  When there are lots of buyers, your offer will need to be strong.  Remember, you aren’t the only one who wants this home, and if your offer is too low, it will be overlooked.  That means that you will have priced yourself out of a home that otherwise might have been just the one for you.  You want your offer to command the seller’s attention and not offend him or her.

Three, be ready to move!

If you follow our tips and shop for your new home only after you have prepared your financial information, hired a real estate person, looked at and chosen a home, and made a good strong offer, start packing your bags!