You are looking for a home. Maybe you're a first time home buyer or maybe you are looking for an investment property.
If the house that you've been waiting for hits the market, will you be ready to buy? Have you been navigating your finances and credit in such a way that you can take advantage of the lowest interest rates when opportunity knocks? Have you taken the time to watch the internet so that you know what has been available and how much the asking price was? Have you made contact with a realtor that you know and trust?
Knowledge and preparedness are two of the best tools that you can have when it comes to purchasing a home. It is important that you do your best to position yourself to act quickly if the right home does happen to hit the market, say, in December.
The amount of inventory does decline significantly during the holiday season and the cold winter months. But that's not to say that homes never come onto the market in December or January. Sometimes, the homes that come available are the homes that you want to be prepared to jump on; which is why it's so important to have your ducks in a row.
Take for instance a foreclosure. A home may have been going through the foreclosure process for the past 10 months or more. When all of the t's have been crossed and the i's have been dotted, the bank is going to need to get it sold and off the books. They don't care if it's December or January. This could be just the deal you've been waiting for.
A home may come onto the market that is being handled by a relocation company due to a work related transfer. Who knows when the corporate office is going to need an employee transferred to a new location? A company works by their needs, not by the convenience of their employee.
By putting yourself in a strong purchasing position, you will increase the chance of negotiating the best possible contract. By having built a relationship with your realtor, either in person or via email or text-message, ensures that you are going to have the best representation.
The important thing to remember is that you have to do your best to be prepared to purchase when the opportunity presents itself.
Contact Kristy for a free consultation on the current market and what you can do in preparation of your next real estate purchase.