With the current high inventory market situation it may surprise you to know that I have already had a few clients involved in bidding wars this year. Sometimes I think that the news media over hypes market news to the point that many potential buyers have a warped sense of current market conditions. Is this a buyers market? Yes, it certainly still is a buyer's market; however, good homes in good neighborhoods at good prices still sell fast!
Don't allow yourself a false sense of security that your dream home will still be available if you delay in writing an offer. Don't get me wrong, I'm not a "high pressure" agent looking to quickly close sales and compromise the comfort of my client. But I also want to minimize client disappointment because they don't consider the fact that there are still other buyers out looking at the same houses. Be prepared to pull the trigger and write an offer when you find the house you've been looking for.
Home buyer preparation tips:
1. Get a mortgage pre-qualification and know what you can afford
2. Utilize online resources to save searches and keep you up to date on home listings matching your criteria.
3. Be mentality prepared to write an offer. If your not ready, I would suggest delaying an active search until you can confidently say that your ready.
4. Talk to your agent about your specific wants and needs - this conversation will help both your agent and yourself in deciding what is of greatest importance and what is a "nice to have".
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