While the winter weather makes its last stand in early March, potential home buyers and sellers prepare for the traditional spring and summer housing market. Nationally home prices rose 13.6% in the past 12 months according to Standard and Poor’s/Case-Shiller home price index and 2014 is predict by market forecasters to be another year of gains for housing prices.
So as home prices rise and housing inventory is low, MSN Real Estate offers steps for a potential home buyer to gain a competitive advantage over other buyers this spring in their editorial, 7 Ways Homebuyers Can Gain an Edge This Spring.
MSN Real Estate suggests:
1. Get your financing lined up. “You may not fear being turned down by the bank, but the seller doesn't know that. The seller may also be in a hurry to hand you the keys…..Get Preapproved, not prequalified”
2. Find out why the seller is selling. “Buying a house can be an emotional decision. Selling a house can be, too.”
3. Be Flexible. “If you're competing against other buyers, be as accommodating as possible” Be careful of placing certain contingencies in the contract.
4. Sweeten the Deal. "It's not uncommon to offer over the asking price… How much more is up to you, but even another $500 might get your seller's attention.”
5. Be Fast. “This is a big decision you ideally don’t want to rush, but if you know you can afford the house and you love it and the neighborhood, then, yes, you probably should rush.”
6. Be bold. “If you really want the house, don't get too cute and make a lowball offer, thinking there will be a lot of negotiation. You should suggest something close to the price the homeowner is expecting, or risk your offer being ignored. And this isn't the time to be petty – or cheap.”
7. Provide good customer service. “It comes down to thinking of the homeowner as your customer. You'll get his business (well, the house) if you're personable, easy to work with and able to offer a good deal. Of course, you want to make sure you don't offer the seller such an amazing deal that you hate yourself the day after closing.”
If you’re searching for a home to purchase in Bucks County or anywhere in the Delaware Valley, search all the homes that are listed for sale at www.montgomerycountypaproperties.com
To obtain a free, no obligation preapproval, call 1st Mariner Bank at 877-733-4411.