Sometimes that headline is said over and over by REALTORS, however this really rings true for our current market. Many many homes went on the market over last spring and summer due to the great come back of the real estate industry but in that many sellers overpriced their homes to capture a large gain and our market is more of a steady gain area. This is why buying a home this winter could be the best time for that home purchase. Here are 5 great things to consider when looking to buy a home in the next few months.
1. Having a Buyers agent is key! This will not cost you any money and the research your agent will be able to do for you plus their expertise will make the process easier.
2. Know what you are looking for. Make a list of items that are a necessity for you or your family when beginning your home search. A great search tool on Murney.com is our Search Assistant. Sign up for free! Begin by creating either one search or multiple searches with your criteria. You can easily compare homes to one another and favorite properties in your personalized cart. You even have the capability to add specific notes for your agent on each home and get daily or real time alerts on homes new to the market, reduced in price, back on the market or Open on Sunday.
3. Have your agent do serious research on the home. Something NOT new to agents but new to clients is a search history. Your agent can run a history report on the home you have the most interest in to see cool things such as: days on the market, price reductions, or if it was ever withdrawn or expired from the market. Sometimes this may give you leverage on making an offer.
4. Make sure financing is in place. NEVER wait till the last minute to secure financing. There are new regualtions in place on financing so sometimes it may take longer to close on a home. Have your pre-qualification letter ready to go when it comes time to make the offer.
5. Don’t hesitate. If your agent has done their homework and you are ready to make an offer, DO IT! Especially if you have seen a price reduction or if the sellers agent relays to your buyers agent that the home has had a lot of activity. Make sure to make it a good offer too. Homes that have great activity are more than likely to be priced to sell and will want a good offer.
Here are some quick statistics from the Greater Springfield Board of Realtors. In September 2014 the average Solds were 791 with an average of Active listings 7606. In September 2015 the average Solds were 959 with an average number of Active listings being 7234. These simple stats show that our market is still really really good and we have less listings but more buyers.
Give a Murney Associate agent a call today 417-823-2300 or sign up on Murney.com