8 Home Buying Tips In A Fast Paced Market – The recovery of the housing market has been gradual, but in many markets properties are moving incredibly quick. Buyers have to make swift decisions about their future home because homes can be off the market in two weeks or less. Here are some tips for finding your future home in fast market.
- Cities with fast paced markets: San Jose, Ventura, California, San Francisco, Las Vegas, Boston, Denver, and Seattle.
- Working with an agent can give you a lead on your search – A large real estate agency can have numerous new listings daily. An agent at a brokerage such as this may know of a new listing before it becomes public knowledge.
- Agents in some markets can have access to real-time Multiple Listing Service (MLS) alerts – They receive notifications for new listings as soon as they are entered. A good agent can point out these homes and help avoid the frustration of biding too late.
- Agents also have access to expired listings – Some homeowners may have tried to sell in a slower market a few years ago, and given up. These former sellers may want to get back in the market when contacted by an agent and potential buyer. You can work with an agent to find listings that may have fallen through the cracks when the housing bubble crashed
- Don’t hold back on offers – It’s not a good idea to low-ball an offer when homes are flying off the market. If you find a home that is reasonably priced and suits you, it is smarter to come in at asking price rather than being outbid later.
- Have the vision to see past small imperfections or bad photos of a home – A great house could be hidden by poor lighting, old furnishings, or outdated decorating. Be creative! See through the ugly to the bones of a home and its potential.
- Know what you’re looking for! Know exactly what you want in a home when you start looking, that way when you see what you want you know it!
- Balance your expectations and know what compromises you are willing to make! In a fast paced market you just can’t be too picky. A home may not have everything you ever dreamed of, so know what and where you can compromise.
Use these tips and buying a home in a fast paced market will be a simple task. Do you currently live in a fast paced market? What tips do you have for home buying in a fast paced market? Comment to share them.