Coldwell Banker Tomlinson Group Meridian

Get Ready to Purchase a Home in a Seller's Market

by Scott Dykstra 09/24/2018

Purchasing a home in a seller's market may prove to be difficult. Fortunately, we're here to offer expert guidance to ensure you can find the best house at the lowest price, regardless of the present real estate sector's conditions.

Now, let's take a look at three tips to help you get ready to pursue a home in a seller's market.

1. Assess the Housing Market Closely

A seller's market likely features a shortage of high-quality houses. As such, you'll want to analyze the local real estate sector closely so you can identify your dream home faster than ever before.

Take a look at the prices of recently sold houses in your city or town. This information can help you understand the average price range for homes of all sizes in your area. You also should find out how long these homes were available before they sold to understand the current pace of the real estate market.

Furthermore, you should make a checklist of home must-haves and wants. Once you craft this checklist, you can assess the houses available in your city or town and map out your homebuying journey accordingly.

2. Get Pre-Approved for a Mortgage

In all likelihood, you'll need to act fast to acquire your ideal residence in a seller's market. If you have a mortgage in hand when you submit a home offer, you may boost your chances of receiving a "Yes" from a seller.

A home offer that is contingent on a buyer's approval for a mortgage often is far from ideal. If a seller receives this type of offer, he or she may be reluctant to accept it, as there are no guarantees a buyer will be able to obtain the necessary financing to acquire a home.

Comparatively, a buyer who gets pre-approved for a mortgage can enter a seller's market with a budget in hand. And if he or she finds a great house, this buyer can submit an offer without having to worry about getting financing at a later time.

To get pre-approved for a mortgage, you should meet with a variety of lenders. These financial institutions can teach you about a wide range of mortgage options and help you find the right mortgage based on your finances.

3. Collaborate with a Real Estate Agent

A seller's market can be tough to navigate, regardless of whether you're a first-time or experienced homebuyer. Thankfully, real estate agents are available who can guide you along the homebuying journey.

Typically, a real estate agent will learn about your homebuying goals. He or she then will keep you up to date about houses that meet your criteria, set up home showings and help you submit offers on residences. And if you ever have homebuying concerns or questions, a real estate agent is ready to respond to them at any time.

Prepare to buy a house in a seller's market – use the aforementioned tips, and you can move one step closer to acquiring your dream residence.

About the Author
Author

Scott Dykstra

Associate With Excellence

With over 3000 Real Estate Agents in the Treasure Valley, you have a lot of choices when it comes to picking an agent to represent you in selling or purchasing a home. With over 22 years of experience working with Coldwell Banker, and being an Idaho native I'll apply all of my knowledge to your transaction. With a team of lenders, appraisers, title officers and home inspectors you can expect Excellence in every part of your transaction.

Excellence in Designations?

Yes, I have lots of designations and initials and I would be happy to tell you what they all mean. Realtor®, Associate Broker, CRS (Certified Residential Specialist), GRI (Graduate Realtor Institute), ABR (Accredited Buyer's Representative), CSP (Certified New Home Sales Professional), CRRS (Certified Residential Relocation Specialist), Chairman's Circle, President's Circle, and AANG (All Around Nice Guy)!

Full-Time Excellence
Being a full-time Real Estate Agent is a lifestyle more than a career. I will always try to answer my phone and be available for your questions or the questions from a buyer for your home. When a new home comes on the market I understand that sometimes I need to drop everything so we can look at it now! Being in the office almost every day I keep up with what the market is doing so you are free to live, work and play. 

Excellence & Expertise

Buying or selling a home is one of the most important and expensive transactions you will have in your life. Because of that, it is important that you work with someone you can talk to and feel comfortable with.  People trust me with their most valuable asset. It's a responsibility I take very seriously.

Let me guide you through the complexities of buying or selling your home, eliminating hassles and stress. I look forward to working with you.