The news you hear about how hot the real estate market is true! Bidding wars, tons of buyers, low-interest rates, and low seller inventory is what the market is all about right now.
To show just how fast, let me tell you a story about a family I am currently working with. On Friday morning we talked and decided to view four homes that had come on the market that Thursday and Friday. We scheduled to view all four homes on Sunday morning and had all showings confirmed with the homeowners on Friday. By the time Saturday night came around three of the four homes we had scheduled were under contract. That means that three of the homes we were scheduled to see went under contract in less than 48 hours. That is crazy fast!
Think about that. 75% of the homes that came on the market late in the week were under contract in 2 days. That is unbelievably fast.
These particular buyers happen to be purchasing in a competitive price range and with interest rates so low it doesn’t surprise me that homes are moving fast. But this really is unprecedented.
If you are interested in purchasing a home here are a few tips:
- Get pre-qualified before you look at homes
- Be ready to make an offer for a home you like
- It’s a seller’s market so be prepared to offer close to the list price and at terms that make the seller happy
- Have funds set aside for inspection and appraisals, not to mention the down payment
- If you like a home you see. Take a look and don’t hesitate.
Homes are selling fast these days so be prepared and know what you want in a home. Talk with your Realtor about what you want out of a home and be decisive. With such great interest rates and a hot market, there is a lot of competition for homes.
I would love the opportunity to help you with fast and knowledgeable service. Give me a call today and we can discuss how best to approach your home purchase.
Happy house hunting!