How to Buy a Home in a Competitive Market
Once again the real estate market in San Francisco has become crazy! Buyers are lining up to buy homes in good locations in livable condition.
I have some tips that make buying in such a market a bit easier.
Prices are continuing to rise while inventory is very low. There are many theories as to why inventory is low but if you’re in the market to buy a house it doesn’t matter. What matters is finding a home you love at the right price*. The point of this article is to give you a few strategies to use in a competitive market. They work for both – the investor and the homeowner.
Read More of the Original Article Here
Tips in a Nutshell
- What to Look for – Stale Listings: Houses on the market for more than a few weeks are called ‘shopworn inventory’ or ‘stale listings’. If a property is on the market a couple weeks, it presents a potentially great opportunity for a buyer! Don’t gloss over these listings.
- Go into Back-up Position: If your offer is not the one chosen, then ask to be put in back-up position.
- Don’t Miss an Opportunity Because the Property Doesn’t Meet All of Your Needs: No property is perfect. While you are shopping for the perfect home, prices go up and near perfect homes are sold. Prioritize your list of needs and wants for a property according to what cannot be changed.
To download a PDF version of this newsletter click here: Tips for Buying a Home in a Competitive Market