It’s a seller’s market, home values are going up and there is a shortage of housing in Tallahassee. It may appear as though the days of house flipping in our area are long gone, but don’t give up yet. Admittedly, it is more complicated to flip a house in some segments of our market, but below are 4 simple tips that will put you in a position to buy and flip when the next chance comes around.
1. Know when to act fast
In a seller’s market like our current one, you have to be willing to offer on a house the moment you find one that meets your needs. I have witnessed many buyers lose the house they wanted because thought about it for too long and the seller accepted a different offer. This is particularly true for any ‘good deals’ that would be suitable for a remodeling project.
In fact, many fixer-uppers are selling before they even hit the market, which brings me to my next point.
2. Stay updated about homes coming soon to market
Browsing the Coming Soon Homes Tallahassee website will help make sure you are always aware about homes that will be for sale soon. The houses on this site are not on any other property search website or in the MLS yet.
Looking for houses here will help you stay ahead of the competition and be the first to the table when putting in an offer.
3. Set up a saved search on a property search website
First, ensure you are utilizing a robust property search website that updates numerous times every day with the most current information for Tallahassee houses for sale (hint: Zillow, Trulia and Realtor.com do not adhere to this description).
Setting up a saved search will allow you to be notified each time a home is listed that fits your criteria and will update you regarding price changes. This is a key component in being able to act fast on any fixer uppers that become available for the right price.
4. Team up with a well-connected real estate agent
Find a knowledgeable buyer’s agent at the beginning of your home search. Teaming up with a real estate agent who is aware of current market conditions can help you set realistic expectations to guide your home search.
Additionally, working with someone who is well-connected in the real estate industry can help ensure you are the first to know about houses that may be coming to the market soon. Sometimes, you’ll even get to know about them prior to them being listed on the Coming Soon Homes website.
Purchasing a home to flip or renovate in Tallahassee is more difficult than it previously was, but is still possible. Just follow the four steps above and hire an experienced buyer’s agent to find your very own fixer upper.