In today's real estate market it is no surprise that my newest listing went pending as soon as it hit the market. With low inventory and high demand for housing, buyers and their real estate agents know that being prepared and ready to pull the trigger at any given time is an absolute must if they want to be successful at getting into a home!!
Here are a few tips when buying in a seller's market:
1) Get started ASAP. Don't wait for prices to drop, they are not going to. Due to the undersupply of homes on the market today, there's an upward pressure for home prices to continue to rise!
2) Have your proof of funds and pre-approval ready. This is a must no matter what type of market you are competing in. Sellers want to see that you are qualified and have the funds to back up your offer. Waiting until after you find the home you love to get prequalified could cost you the home of your dreams.
3) Keep your offer simple. Asking for the seller to pay for your closing costs or requests for too many repairs might send your offer to the end of the pile.
4) Start with a strong sale price. Don't try to go in low in hopes the seller will send you a counter. Put simply, money talks. When vying for a home today, you need to put your best foot forward, and your best asking price.
5) Be sure you are working with someone you trust. Knowing your best interests are being taken care of and knowing your agent is going to stay on top of inventory, market shifts, interest rates are key to helping you navigate your way through a seller's market.
If you have questions about the real estate market contact me for a free personalized consultation.
Terrie Leighton, REALTOR, CRS
NV LIC 61129 / 167199
Your Home. My Priority. Since 2003
NV LIC: S.0061129 PM #167199
Certified Residential Specialist (CRS)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
NAR's Green Designation ~ Certified Green
Certified Negotiation Expert (CNE)
Cell ~ 775.846.5424
Email ~ Terrie@terrieleighton.com