Coldwell Banker Tomlinson Group Meridian

Buy a House in a Hot Housing Market

by Scott Dykstra 11/19/2018

Let's face it – buying a home in a hot housing market is no easy task. For example, if you wait too long to submit an offer on a house, you risk losing this residence to a rival buyer. On the other hand, if you rush to submit a home offer at or above a seller's initial asking price, you risk spending too much to acquire your dream residence.

Clearly, there's a lot to think about as you search for a home in a hot housing market. Lucky for you, we're here to help you overcome myriad homebuying hurdles and acquire your dream residence, even in a hot housing market.

Let's take a look at three tips to help you succeed as a homebuyer in a hot housing market.

1. Narrow Your Home Search

You know that you want to live in a specific city or town, but you still are uncertain about what type of house that you want to purchase. However, if you create a list of home must-haves and wants, you can narrow your house search and speed up the homebuying process.

Once you have a homebuying checklist in hand, you should have no trouble evaluating residences in a hot housing market. Then, you can check out these houses in person and move one step closer to submitting an offer to purchase your dream house.

2. Get Pre-Approved for a Mortgage

To acquire a home in a hot housing market, you'll likely need a mortgage. Thankfully, lenders are available that can teach you everything you need to know about a wide range of mortgage options.

Lenders can explain the differences between adjustable- and fixed-rate mortgages, describe exactly how a mortgage works and much more. That way, you can assess many mortgage options and select one that matches your finances.

After you obtain a mortgage, you can enter a hot housing market with a homebuying budget. This will enable you to further accelerate your home search and ensure you can quickly submit an offer as soon as you discover your ideal residence.

3. Collaborate with a Real Estate Agent

Navigating a hot housing market sometimes can be tricky, particularly for a homebuyer who is competing against dozens of rivals. But if you hire a real estate agent, you can receive comprehensive support as you pursue a home in a hot housing market.

A real estate agent is ready to assist you in any way possible. This housing market professional will offer insights into the real estate conditions in a particular city or town and help you map out your homebuying journey accordingly.

In addition, a real estate agent understands exactly what it takes to buy a residence in a hot housing market. He or she will help you put together a competitive offer on any home, at any time. And if your offer is rejected, a real estate agent will help you regroup and reenter a hot housing market so you can find your dream home.

Ready to buy a home in a hot housing market? Use the aforementioned tips, and you can accomplish your homebuying goals faster than ever before.

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.