Today’s real estate market is hot, no doubt, and that presents challenges for all home buyers. With housing inventory at an all-time low, many home buyers are struggling to find homes and when they do, they are flying off the market within days. So how do you stay competitive so you can find a home and secure the one you want?
First and foremost, you need to be working with a trusted real estate agent who is seasoned in the Omaha market. Having a professional agent working hand in hand with you, that has years of resources and experience in their pocket allows you to gain access to homes that may not even be on the market yet. That is critical today. It also gives you their expertise in knowing how to put in the best offer and negotiate your way to securing the home you’re looking to purchase.
You’ll also want to do the following:
Make sure your paperwork and mortgage pre-approval are in order. This has to be your first step! When you do find a home, you’ll need to be ready to make an offer right away and if you don’t have a letter of pre-approval, you won’t stand a chance.
Determine what you really need versus what you want. There are concessions that need to be made, so know where you are willing to draw the line. With the market moving so quickly, you’ll need to know what you’re willing to give up on the front end since you won’t have days to consider this when making an offer.
Be ready to make an incredible offer! If the home you’re looking to purchase is priced correctly, realize that many offers are going to come in. If you want the home, your offer is going to have to be sizable. Work with your agent to determine what that should be and what you are comfortable with and what is within your approved budget. You may also want to consider other financial incentives like paying the seller closing costs.
Be flexible. Does the seller need additional time in the home after closing? Do they have other needs that need to be met? You may have your agent reach out to find out if there are other caveats that you could offer that could sway the seller your way.
Be ready to ACT QUICKLY! In a fast-moving market, time is not on your side. When you do find a home you want to purchase, you’ll need to be ready to ACT NOW. Make sure you have everything in order and are ready to make your move.
I am an experienced real estate agent and associate broker in Omaha and Southwest Iowa. Let my knowledge, resources, and expertise go to work for you. I’ll help you realize your real estate goals and dream of homeownership come true. Call me at 402-981-6999 or email me at [email protected]
