Tip Tuesday: How to Win in the Spring Real Estate Market as a First-Timer

Are you a first time homebuyer?  This can make the Spring Real Estate market overwhelming!  While there are more houses to choose from in the Spring, we are still in a low-inventory market so homes will go fast, which means that offers should be made fast, be appealing to the Seller and be filled with confidence.  How do you do that?  

1. Find a Realtor.  Find the right Realtor that works for you.  Find a Realtor who is able to see houses quickly, get back to you regarding questions fast and make offers with all resources (i.e. electronically, in person, HUD verified bidder, etc).  At Harrison Real Estate, we’re committed to giving you the service you deserve from a team you can trust.  Start by meeting with us for a complimentary buyer’s consultation to discuss the home searching/buying process.
2. Get pre-approved.  Based upon your needs and ability for down payment, your Realtor can refer you to a mortgage lender that fits your needs.  This pre-approval is necessary for a few reasons: 1)ensures what price you’re able to afford so that you’re looking at homes that appropriately match your budget and 2) fills a Seller with confidence when they see your offer because they know that you can afford their home and the deal has less probability of falling through.
3. Don’t wait.  See home you like?  Contact your Realtor and see it today. Be prepared to make seeing homes a a priority in this market.  Waiting even a day could mean losing out on a home.
4. Make your offer stand out.  Besides price, what other factors can make you stand out?  Be flexible with timing, if you can.  If you can make your closing date one hat works best for the seller, your flexibility may be appealing to them.  Shorten contingencies. Instead of a 14 day inspection contingency, reduce it to 10.  This shows the seller that you’re serious and ready to make the necessary steps to move the contract along quickly.
5. Don’t skip a home inspection.  Whatever you do, don’t skip a home inspection.  As a first time homebuyer, the home inspection will alert you of any large issues, but also give you tips on home maintenance and care which is essential to protecting your new investment.

Don’t let the Spring market intimidate you.  Start searching today!