One Day Late and the House is Gone!

By
Real Estate Agent with Wagner Inc. Real Estate

Wanna buy a nice house in Havertown (Haverford Township)?  If you don't see a newly listed home in the first 2 days, it might be gone.  Just this past weekend, I found myself in the middle of 3 different deals where there were multiple bids within 5 days of homes being listed on the market.  All three homes were well taken care of, priced well and received great offers.  Get prepared!

What can you do to make sure you don't miss out?

1.) Line up your financing with a reputable mortgage lender.  I can't stress enough that if your not prepared financially, sellers will look onto other offers.  Recently, I've found smaller local mortgage companies to be much more in the know, highly efficient, and the industry experts.  With all of the mortgage changes in the last couple months, the big players in the market are having a really hard time catching up and adjusting.  Financing needs to be strong and you should have confidence in whoever you choose to put together your loan.  Don't just shop rates, ask any real estate agent who's active in the market they will tell you how difficult deals become when your not working with a good mortgage/loan officer.

2.) Find an reputable real estate agent who knows the local Market and has their pulse on the latest listings.  One day could cost you a house.  It seems a bit neurotic, especially when you have national news discussing troubled housing markets, but a good local agent will be quick to communicate which homes will sell quick and which ones you need to be see immediately.  

3.) Drive the Neighborhoods Beforehand!  When a great house pops up, its easy for a real estate agent to say that its a good deal, but its best if you are familiar with the neighborhoods ahead of time so that you jump at the right deals with confidence.  A delay due to second guessing could loose you the house.  I've recently been working on information in regards to Havertown highlights and continue to develop them in further detail.  Certainly if have questions, just ask.  Additionally, if you're looking in Haverford Township and new to the area, I'd be happy to send you a local Township map that shows all of the local establishments, parks, schools, etc.


Don't be discouraged, just be prepared.  With the frenzy that could be caused with the First time Home Buyers Credit ($8,000.00) and Existing Home Owners Credit ($6500.00) expiring as of April 30th, 2010, you can't afford not to make well educated decisions.

Lastly, don't forget that you can actually take advantage of receiving those credits in 2009 by filing the appropriate paper work with your 2009 Tax Returns, after the settlement of your home.  If your settling after April 15th, it would be well worth filing an extension to get the credit.  Make sure to talk to your tax account.

Good Luck!

 

 

 

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Rainmaker
227,029
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO

Wish I could say the same here in the Ozarks.  Are these quick sales repo's or short sales?

Mar 01, 2010 03:29 AM #1
Rainer
16,081
Tyler G. Wagner
Wagner Inc. Real Estate - Havertown, PA
Realtor (R), Associate Broker

These are regular sales.  The Philadelphia Region in general has been fortunate in that the prices didn't skyrocket a couple years ago.  Additionally, there's fairly good job diversity in the region which has helped keep demand for housing.  We do have some short sales and repos here and there, but my local market in Havertown has faired well. 

Mar 01, 2010 03:38 AM #2
Rainer
76,706
Mike Sparks
The House Company Galveston Texas - Galveston, TX
Galveston Island Real Estate

Tyler, glad to hear your area has an active market.  A well written blog entry too, hits all the buttons for SEO.  Hope it motivates buyers for you.

Mar 01, 2010 04:33 AM #3
Rainmaker
335,293
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

I've got some Buyers looking right now, and they have found several properties sold before they made up their mind. Some were foreclosures, some weren't.

Mar 01, 2010 04:53 AM #4
Anonymous
Tyler Wagner

Thanks Mike and Leslie, Its really interesting market place right now.  Buyers who feel they should have control are running into a different scenario with the nicer homes.  Sellers seem to be taking their time and actually preparing the homes before they come on the market.  On the other hand, there are still lots of homes that are dated and just sit until their price is appropriately reduced.

Mar 01, 2010 07:08 AM #5
Anonymous
Tyler Wagner

Thanks Mike and Leslie, Its really interesting market place right now.  Buyers who feel they should have control are running into a different scenario with the nicer homes.  Sellers seem to be taking their time and actually preparing the homes before they come on the market.  On the other hand, there are still lots of homes that are dated and just sit until their price is appropriately reduced.

Mar 01, 2010 07:08 AM #6
Rainer
39,248
John Ryan
Century 21 Alliance - Havertown, PA

Have to agree whole heartedly Tyler.  Happy to see our market is still strong, affordable and desirable.  While I cringe at an appraisal in some of our adjacent communitys I have been more than happy with the appraisals in Havertown.  Not only is it a great place to sell in, but a wonderful place to live, and buyers know it!

Mar 05, 2010 12:55 AM #7
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Rainer
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Tyler G. Wagner

Realtor (R), Associate Broker
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