This is a Seller's Market.....

Real Estate

 5-17-2016    

 

What  does this mean to you if you are  a buyer in this market?

First, don't fall in love with every home you look at with your agent, chances are good you may not get that house.

Second, if you are financing, you need to at least be pre-approved for more than the  purchase price for  a  buffer, even better to be qualified with advanced review.

Third, if you really want the house, be prepared for multiple offers and the chance that you may need to pay more of the closing costs and even potentially offer above asking price.

Finally, be prepared to write a nice letter to the seller that  indicates  why you love the home so much and that  you will take care of it going forward as well as they did  while they lived  there.  If you need help, ask your Realtor to help you write the letter.

I hope this helps you navigate the terrain of a sellers market when you are buying.  Just  because it's a  seller's market does not mean it's not a good time  to buy.  Not at all.  This is  a great  time to buy.  Just  be prepared  with the tips I've provided above and be sure  to enlist the help of a qualified real estate agent early in you home  search.
Next time on my blog, how to navigate  a seller's market as a home seller.

Sean.