Planning to buy a home in 2018, there are four secrets that you should know regarding this hot market, which is unlike any other market that we have seen in quite some time.
Properties are coming on and selling very quickly, oftentimes for over the asking price and with multiple offers. This is a great thing for a seller, but if you are a buyer, it can be difficult. So, what are some of the things that you can do to help prepare yourself?
1. Be educated about the market. Work with an agent who understands what is going on in the market and sells homes more than once a month. You want someone who is working with a buyer or seller to purchase or sell property every day.
2. There are a lot of properties that sell before they ever hit the market. These are called “pocket listings” or “coming soon listings.” We have an extensive list that we show the sellers we are working with, letting the buyers know, see, and even make offers on the properties prior to them hitting the market.
WORK WITH AN AGENT WHO UNDERSTANDS WHAT IS GOING ON IN THE MARKET AND SELLS HOMES MORE THAN ONCE A MONTH.
3. Don’t rely on third-party websites. Lots of buyers that are shopping on Zillow, but you need to understand that there could be homes that are on there that were sold weeks ago. This can cause problems when you decide to get serious about making an offer on a home.
4. Get pre-approved. You have to do this in the current market because sellers will not look at an offer from you if you are not pre-approved. When you shop for a mortgage loan, do not be afraid to look around because the idea that it will hurt your credit score is untrue. You should be shopping around to find the best deal.
If you would like to get started with buying a home in 2018, please contact me by phone or email. I would be happy to help you find your future dream home.
Warmest,
Lyn Moilanen, SRES, ABR, CRS
REALTOR®, Licensed in MN
Coldwell Banker River Valley, REALTORS®
2510 Superior Dr NW, Rochester, MN 55901
Call/Text (507) 271-7144 | Office (507) 285-9115 x 228
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