Summit NJ Real Estate Proving to Be A Buyer’s Market

If you're shopping for Summit NJ real estate, there's great news. With more inventory than ever in the Summit NJ market, buyers are getting breaks like never before. There was a time that sellers could put a home on the market, and it would be gone within days. Because of mortgage market issues, though, sellers simply aren't having their desires fulfilled, which means amazing prices for buyers in the Summit NJ real estate market.

In an ABC News story last year, real estate analyst Ivy Zelman said, ""People are going to have to come to the reality that if they want to sell their house they're going to have to lower the price." That's great news if you're looking for the perfect home.

How To Take Advantage of the Market

If you do want to take advantage of the Summit NJ real estate buyer's market, there are several things you can do to make the process a little easier.

• Get prequalified for a mortgage. Talking with a mortgage lender before you start the home shopping process is more likely to win you the home of your dreams. You'll not only know that you can get the mortgage you need, it will serve as a beacon to sellers and real estate agents that you're serious about the home buying process.
• Don't be afraid to negotiate on the price. Remember, the ball is in your court with this market, so if you want a home, but there are a few problems, don't be afraid of a little negotiation. The chances are still good that you'll get the home you want.
• Keep in mind that incentives may still be costly. If you're buying a new home or the seller is offering things that seem too good to be true, be sure to read the fine print. These freebies often cost you somewhere along the line.
• Take your time. The buyer's market isn't going anywhere soon, so take your time. Remember, though, other buyers are out there trying to find great deals, too, so don't waste time, just don't be in too big of a rush.

The Summit NJ real estate market is full of homes for you to take a close look at. Contact Kristin Balsley today to find the right homes in your price range!