When inventory is low, the housing market becomes very competitive and home prices tend to rise. If you plan on buying a home in this environment, you need to plan ahead to avoid being overwhelmed and losing out. Listed below are 5 tips to help you navigate.
- Stick to your budget: Meet with a mortgage lender to get “pre-approved” so you know what loan amount you qualify for. Be prepared to walk away if you happen to find yourself in a bidding war and a price that surpasses your budget.
- Identify desired neighborhoods and prepare a list of wants vs. needs: Knowing your housing “must haves” will help you focus on the right location and property features.
- Prepare to act quickly: In a seller’s market, homes rarely stay on the market long. Buyers should view new listings immediately and be prepared to submit offers quickly!
- Submit your highest and best offer with limited contingencies: Don’t try to “make a deal” in this competitive market.
- Work with an experienced REALTOR® and listen to their advice: They will give you the competitive advantage needed in a tight seller’s market.
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Acuity Group ~ 564 Dodge Ave. Suite A ~ Elk River, MN 55330
www.ACGProperty.com ~ 763-633-3535
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OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Residential and Commercial Investment Property Specialists, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing.
Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hanover MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.
Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Mille Lacs and Isanti Counties