Buying in the Current Market - Aug 2021

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2021 has been a challenge for home buyers, and anyone who tell you otherwise is prob lying 🙃...It has been a constant evolution of adjusting to new market norms + staying on top of current trends in order to advise clients on writing winning offers. If you’re thinking about getting started on the house hunt (which I still recommend vs waiting bc prices are only going ⬆️)...here a few tips:

SET REALISTIC EXPECTATIONS IN THE CURRENT MARKET • Year over year appreciation is up 15%. To put that simply, you can’t buy the same house as you could last year for the same price. Low interest rates do help with affordability, but get familiar with what inventory in your price range looks like NOW, not what it looked like in the summer, fall, or even winter of 2020.

BE WILLING TO SACRIFICE SOME WANTS + SEE THE POTENTIAL IN SPACES • Its better to start somewhere than wait forever for a perfect unicorn house. Do some deep digging into what your absolute NEEDS are, and let the long wish lists go. Be open to adding your own changes too - updating a bathroom or kitchen is a heck of a lot cheaper than paying tens of thousands over list price on a house. 

BE AGGRESSIVE FOR A HOME YOU REALLY WANT • Unfortunately you’re probably not going to feel like you’re getting a deal. You’re likely going to have to concede a lot to a seller + look at the long-term investment aspect of things. Stay within your comfort zone, but don’t have regrets about losing a great house over a couple thousand dollars.

LET GO OF THE BIDDING WAR HOMES • You know the ones...they look like they could have their own Pinterest page, hundreds of showings booked solid through the weekend, offers 100k+ over list price...Unless you HAVE.TO.HAVE.IT and are willing to overpay a bit + waive basically all of your buyer rights, most of the time it’s just not worth it.

KEEP A POSITIVE ATTITUDE • It is tough at times, can be so disappointing when a offers don’t get accepted, and overall it’s a very emotional process. But, with some perseverance, it always works out in the end!

Questions or want to get started? Send me a text or email!