HOW TO FIND YOUR DREAM HOME WHEN INVENTORY IS LOW
You’ve heard that it’s a “Seller’s Market”. Well, if you are actively searching for a new home, you KNOW that it’s true! The low inventory of homes for sale has made things difficult for buyers. There just are not many homes for sale out there and when a nice listing does come to market, it’s met with multiple offers within just a few hours…often with offer prices well over the list price.
If you are a buyer in this market, you might feel overwhelmed but remember that with a solid strategy, you can still find your dream home, even when inventory is low.
The highest offer price in the world is worthless if the transaction does not close.
Here are a few tips for buyers looking in a tight market:
- Talk to a lender before you shop so you are prepared
- Be prepared to pull the trigger
- Write a competitive offer, meaning your highest and best. You only get one chance.
- Keep contingencies to a minimum
- Write a clean offer; Make it easy for the sellers to just say yes
When inventory is low, it’s easy to feel like the best homes are already gone, but by working with your agent, you can put yourself in the best position to have your offer accepted.