TIPS FOR BUYING IN A SELLER’S MARKET
It’s true–it’s a seller’s market in Palestine, Texas! Homes are selling FAST and often with multiple offers. So, what is a home buyer to do?! While the market is tougher as a buyer right now, it is still not impossible! Follow these tips to buy successfully in this market!
DO IT IN YOUR UNDERWEAR: GET PRE-APPROVED FOR A MORTGAGE
To succesfully get your dream home in this market, you must be organized! The first step in the process is to get pre-approved. Once you are pre-approved, you will be ready to write an offer the moment you find “the one.” There is no worse heartbreak than finding your dream home and risk losing it because the financing is not lined up. It is very easy, you can apply for a mortgage in your underwear–most lenders have applications online! Don’t know which lender to use? Ask your agent, he/she will guide you!
(WARNING–SHAMELESS SELF PROMOTION: If you don’t have an agent, call or text me 903-948-3343! I’ll help you find the right local lender for your situation.)
WORK WITH A GOOD LOCAL AGENT (PREFERABLY NOT WHILE IN YOUR UNDERWEAR)
A good local agent is the difference between getting your offer accepted and spending weeks or months unsuccessfully writing offers. Agents specializing in the market you are buying in are crucial not only for your offer success, but also because they are tuned into what is going on in the area. Local info is always best straight from the source.
DON’T WAIT, DON’T PROCRASTINATE: THE BEST DAY TO BUY IS TODAY
This applies in buyer’s and seller’s markets. The early bird catches the worm (err, in this case, the house). A hot new home hits the market tomorrow morning? See it the same day, if possible. The earlier you can get an offer going, the less likely you’ll end up in a bidding war (aka Multiple Offer Situation) over the home. Consider this: right this very moment, the owner of your future dream home could be signing the listing agreement with their agent or having a photo shoot done! New listings hit the market all the time. Be prepared and ready to jump on any opportunities!
BE PATIENT WITH THE PROCESS
I know this seems like this contradicts the last paragraph, but be patient with the house hunting process overall. In a seller’s market, you must be patient if your first offer does not get accepted. Be prepared to pay list price, if it is your dream home. While there are always “deals” to be had in real estate, it does take longer to find a “deal” in a seller’s market.
HAVE FUN (ESPECIALLY IN YOUR UNDERWEAR–If that’s your thing)
This is easier said than done–but buying a house should be one of the most exciting times in your life. Be sure to use an agent that you like to talk to, before you know it, you may end up spending many a late night phone call together!
If you have any other questions about your journey to home ownership, or to get started–I’m always here for you!
Lisa E. Priest
Picket Fence Realty, Inc.
voice / text: 903-948-3343