Flowers and trees in backyards across the country are starting to wake from their winter slumber and bloom. Spring is finally here and is known to be the busiest time of year for real estate agents and potential buyers looking for their forever home.
This Spring is proving to be a challenge for the housing market. Inventory in the Prescott area is slightly higher but still seeing slow growth and demand for available homes is still high. With competition on the rise and some properties garnering multiple offers, it is best for the potential buyer to be prepared. Here are 4 easy-to-follow tips to insure Spring time home buying success.
1. Hire a real estate professional.
A potential home buyer wants to choose the best real estate agent for them. The agent you pick should have experience in many different types of transactions, has your best interest at heart, understands your aesthetic, is knowledgeable about the area and what it has to offer, and understands market trends.
2. Get pre-approved for a home mortgage before you start your search.
Too many times potential home buyers fall in love with a home before they know what their budget can afford. Getting a mortgage these days is not as easy as it used to be. You may not be able to qualify for the amount you thought you would. When you are pre-approved for a mortgage, this adds credibility to your offer once you find the perfect house.
3. Figure out your wish list before you start the journey.
Having a list of preferred amenities you would like in your new abode (like stainless steel appliances or granite counter tops) can help your Realtor narrow down the playing field so that you don't get overwhelmed with too many choices. This is also a good time to think about the type of neighborhood you would like to be a part of. Are you single and want to be near other singles and nightlife? Are you and your spouse newly retired and looking for a development that offers different recreational activities like golf or a community swimming pool? Knowing these things will make your home search easier.
4. Be prepared for possible competition.
This is currently a sellers market as there is more demand than supply. There is a pretty good chance that another family could fall in love with the same house your family just fell in love with. Put your best offer forward. The days of substantially underbidding are a thing of the past. Putting a creative spin on your offer like extending extra days to move out can make your offer stand out among the competition. Your Realtor is the perfect person to help you think of inventive ways to do this. Use his expertise and land the home of your dreams.
Spring is the perfect time to find your new home or investment property. Please contact Jason Maneely at (928) 925-6050 for all your real estate needs. "I am a 3rd generation Prescottonian and am proud to call Prescott home. I have a wealth of knowledge about the area, schools, subdivisions, culture and the many activities Prescott has to offer".
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