For those looking for their next residence, this has been a unique year for winter real estate. With inventory at a remarkable low, and demand and a historic high due to the pandemic, buyers are wondering how possible is it to secure the home of their dreams with all the competition.
Here are a few things to remember when browsing in the current market:
1. It’s Not About the List Price, It’s About What the Home is Worth to You
The current market has most homes entering a competitive situation with multiple offers, and oftentimes going over the asking price. So, it’s important not to focus too much on the listing price when considering a home, but what the perfect home is worth to you. If it’s the right fit, you may need to offer more than you were expecting at the listing price to present a competitive offer.
2. Don’t Settle
It may be tempting to compromise on important items in the current market, purely out of fear that you won’t find a home, and I’m here to remind you that you don’t have to go down that road. As your trusted advisor, I’ll be there to remind you about the wants and needs we discussed at the beginning of the process, and to remind you that the right home is out there for you, it just may take some time and effort to find it. Don’t overpay for a home that you’re not thrilled to be moving into. We’ll work together to find the right one.
3. Remember, There’s a Home to Buy, But Also a Home to Sell in Most Cases
While it’s possible that you may have to increase your offer to remain competitive in the current market, don’t forget that your current home has to be sold in that same crazy market, and likely, we’ll be able to go into a similar situation as other sellers. You might have to pay a little more on the new home, but your old home will sell to the same pool of hungry buyers.
4. Mortgage Rates Are at Historic Lows
The silver lining to this wild market? Interest rates are incredibly low, and I have trusted partners who can help make the lending process as stress-free as possible and set you up for success. Together, we’ll make sure you’re in good hands and that sellers know that when we present your offer.
5. Everything Happens for a Reason, and You’re Not Alone
It’s not uncommon within these last few months for buyers to be asking more questions, and the home buying process to take a little longer with the competitive market. Please know that I’m here to answer every question that comes up, and offer advice wherever possible to make sure the process is successful for you. My team and I work tirelessly for our clients, and our first priority is making sure that your offer is accepted on the home of your dreams. We’re here to help you win, but understand that sometimes, it takes time to find the right home. No matter what, you’ve got support through the whole journey.
If you’re looking to buy, I’d love to help you make a strategic plan and discuss your goals. Send me a note today, and let’s connect!