How to Find Your Dream Home in When Inventory is Low
You've heard the rumors; "it's a Seller's Market."
Well, if you are actively searching for a new home, you know that it's try. The low inventory of homes for sale has made things difficult for buyers. There just aren't many homes for sales out there and when a nice listing does come to market, it's met with multiple offers... often with offer prices over asking.
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 doesn't close.
Here are a few tips for buyers looking in tight market:
- Talk to a lender before you shop so you're prepared.
- Be prepared to pull the trigger, don't dawdle!
- Write a competitive offer.
- 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.