Buying a new home is easy right? Wrong. There is nothing easy about going through homes trying to decide what will work and won't. "It takes a lot of looking – we saw 12 in one day – and a lot of patience to find the right house and, even after all of that, it might not be the "perfect" house of your dreams." Jenn Ruff just found her next home but that was after she looked at 50 homes. In the current market, it can be even more challenging. In Annapolis, there are enough homes on the market for 2.7 months. That's significantly down from last year.
"There were several others that we liked, scheduled a showing and then found out right before getting to them that they had an offer in. " Jenn is not alone home buyers are finding the supply low this year. With inventory low, it's a sellers market.
According to the Maryland Association of Realtors, home prices rose 4.8% from the same time last year. President Shelly Murray says that could help buyers. "As prices go up, more sellers will choose to their home on the market." In turn that will give buyers more option.
In the meantime, how can you get to the head of the line? Here's 5 tips...
1. Be prepared: Make sure you have your pre-approval from a lender. Know what you want to spend before you head out the door to look at your home.
2. Pick the right agent: An agent that lives in the area or knows the area well will have ideas of where to look and may know about homes before they come on the market. Your agent can also work with you to make your offer more attractive than others. We recently had a buyer win a bidding war even though they were not the highest bid. We just made the offer as seller friendly as possible.
3. Get ready to walk and walk. Looking for a new home can send you on long days. It's best to be prepared. I like to bring my clients snacks and drinks when we are looking at a long day. It's the best way to keep all of our energy up.
4. Be prepare to move. If you see something you like, you need to be ready to go. React fast and move quickly.
5. Ask questions along the way. It's the best way to learn about the property and the process.
If you are looking to buy a home, I would love to help. Give me a call or email me.
Greg.Beckman@cbmove.comDirect: 410-474-8995Broker: 410-263-8686www.mdhomesforu.com
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