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What To Do When Your House Didn’t Sell
If your listing expired and your house didn’t sell, it’s totally natural to feel a mix of frustration and disappointment. And as you’re working through that, you’re probably also wondering what went wrong and what you should do next.
If you still need to move and want to get it back on the market, here are some things to consider as you look back.
Was It Priced for Today’s Market?
Setting the right price from the start is key. While it might be tempting to try shooting high with your price, that can slow down the selling process big time. If your house was priced higher than others similar to it, it may have turned away buyers. And that’s likely why it sat on the market. As Rocket Mortgage explains:
“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”
Was It Easy for Buyers To Tour?
One of the biggest mistakes you can make when selling your house is overly restricting the days and times when potential buyers can tour it. Even though it might feel stressful to drop everything and leave when buyers want to see your house, being flexible with your schedule is important. After all, minimal access means minimal exposure to buyers. ShowingTime advises:
“. . . do your best to be as flexible as possible when granting access to your house for showings.”
Was It Set Up To Make the Best Impression on Buyers?
If buyers weren’t interested in your house, it’s worth taking another look at your home through their eyes. Are there outstanding repairs that may be distracting them? Even if it’s a small thing, some buyers may see it as a sign the maintenance on the home is falling behind.
Just remember, you don’t always need to make big upgrades. Selective small repairs or touch-ups go a long way. Things like tidying up your landscaping, a fresh coat of paint inside, or removing personal items and clutter can work wonders in sprucing up the house for potential buyers. You could also consider staging the home.
Were You Willing To Negotiate?
If there were offers coming in, but you weren’t ready to negotiate, that may be another reason why it didn’t sell. While you want to get top dollar for your house, you also need to be realistic about what your house can net in today’s market. The market is still tipped in a seller’s favor, but the supply of homes for sale is growing and buyers are feeling the sting of higher mortgage rates. So being willing to play ball can make closing a deal a whole lot easier. A skilled agent can help. As Ramsey Solutions explains:
“If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . . An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”
Did You Listen To Your Agent?
If you want an expert’s advice on why it didn’t sell, rely on a trusted real estate agent. Whether that’s the agent you used previously or a new one once the listing has officially expired, a great agent will sit down and take the time to talk it over with you. They’ll want to hear your honest opinion on what worked and what didn’t, and where you want to go from here.
Then, they’ll offer their perspective. This includes tailored advice and effective strategies for re-listing your house to get it sold. As Better Homes & Gardens says, an agent should be your go-to resource in this situation:
“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”
It’s natural to feel disappointed when your listing has expired and your house didn’t sell. I would love to meet with you to help determine what happened, and what changes you should make to get your house back on the market. Give me a call! Liz Norvelle (928) 458-4025.
Tips for Saving for a Down Payment
Do you wish the rent you are paying was going into your future? Unfortunately, the down payment required to buy a home prevents people from switching from renters to homeowners. Climbing the “down payment mountain” isn’t impossible. It’s about breaking your essential, challenging, audacious goal into practical steps.
Saving for a down payment on a home can be challenging, especially if you need help figuring out where to start. But with some creativity and discipline, you can save enough for a down payment on your dream home.
Tips for conquering saving for a down payment
Find out where your money goes. You can’t start saving money if you don’t know where you’re spending the money. Track each expenditure for a month or two, no matter how small. Get an objective picture of where you’re spending the cash.
Get specific about how much you need to save. Even if you’re not 100% sure what your down payment needs to be, it’s good to start doing a little math to figure out how much you need to save. Pick a dollar amount and a timeline to hit that dollar amount. For example, a $25,000 down payment in two years totals $1,041/month. Sound unrealistic? Either scale down your home desires to something smaller or scale up your timeline. If you can wait three years, that monthly savings goal drops to $694/month.
Determine the big moves you can make. How much would you save in rent if you’re in a three-bedroom apartment and can handle the idea of scaling down to a one-bedroom one? What about going from two cars down to one? If you can make them work, these sacrifices will significantly impact your savings goals.
Establish a separate savings account. Having a separate account with a “hands-off” attitude is essential. Don’t let your dream home money mingle with your regular checking or savings account. Establish a high-yield savings account with a credit union or money market account to protect and build your savings. Automating your savings is one of the best ways to save for a down payment. This way, you’ll never have to think about it – the money will be there when you’re ready to buy.
Pretend you already have a house payment. Once you determine the approximate amount of a new house payment, start making that payment now. This trick is two-fold. Instead of paying the bank, pay your savings account. It will help you accumulate a down payment faster and ensure you can afford the new house payment.
Mind the risky investment schemes. Once you have a little momentum, it may be tempting to invest some of that cash to make it grow faster. Be prudent about this, as investing in stocks, startups, or high-yield funds can quickly decimate your savings. Be conservative.
Of course, knowing how much home you want to buy is essential when saving up for your down payment. I’m happy to give you an idea of what homes are selling for in your area. In the meantime, check out the various neighborhoods in the Prescott Quad City area. See an up-to-date list of homes for sale in the area here.
Feel free to get in touch at any time if you have questions (928) 458-4025!
Check Out Legend Hills
Growing Prescott Valley Community
Legend Hills is a beautiful new subdivision located at the base of Mingus Mountain northeast of Prescott Valley. It has breathtaking views overlooking Prescott and Prescott Valley, Arizona. This growing community can be found northeast of Prescott Valley off of 89A, on the road you take to Jerome, Arizona, just past mile marker 331.
According to LegendHills.net, as of November 2021, there are 625.95 acres of land in Legend Hills, 378 improved parcel owners, 246 unimproved parcel owners, and 151 custom homes built in the association.
Legend Hills of Prescott Valley, Arizona, is a prestigious community with 2-acre minimums and immaculate homes. Legend Hills offers high-quality contemporary and ranch custom homes. Many of the homes in Legend Hills feature foam insulation in the ceiling and blown insulation in the walls, making them very energy efficient. Other custom features include a central vacuum, custom kitchens, granite countertops throughout, tile and hardwood flooring, wood-beamed ceilings, and tile showers. Many homes have paver brick driveways and patios, beautiful stonework, crushed granite, and individual gates to your home on the exterior of the houses. Legend Hills also provides plenty of space for an oversized RV garage, a perfect way to store your RV and toys safely. This popular community is a horse-friendly subdivision with plenty of land for a barn and horse corrals.
Enjoy stunning views of Mingus Mountain, Granite Mountain, and Bradshaw Mountain from inside your home or from the comfort of a covered patio.
Information regarding the Legend Hills community association can be found at https://legendhills.net/.
See Homes for sale in Legend Hills
About Prescott Valley
Prescott Valley, Arizona, is a family-oriented community located 85 miles north of Phoenix at an elevation of 5,000 feet.
Strong in economic development, the community attracts retailers and restaurants such as Kohl’s, Cal Ranch, Dick’s Sporting Goods, T.J. Maxx, Sprouts, Culvers, Chick-fil-A, Buffalo Wild Wings, and various independent food and shopping choices.
One of the best things about the Prescott Valley area is the no shortage of places to spend your leisure time and be entertained. Attractions such as Fain Park, Mountain Valley Splash Pool, and the state-of-the-art library, as well as special events such as Prescott Valley Days, Balloon Glow, or the Christmas Valley of Lights, will keep you entertained all year.
There are multiple reasons families and retirees have chosen to buy homes and relocate to Prescott Valley. They love the year-round incredible weather, strong work ethics, feeling of community, and the quality educational system. As you can tell, I don’t keep a secret about how much I like Prescott Valley! Call Liz Norvelle today at 928-458-4025!
The Best Ways to Access to Properties for Sale
Buying a home has long been considered one of the most significant and laborious financial ventures an individual can undertake. With the advent of new technologies and more dynamic real estate markets, the methods by which potential buyers access properties have evolved dramatically. Ensuring easy and safe access for home buyers is pivotal to the success of a sale and the satisfaction of home shoppers. Hence, as a real estate professional or seller, knowing the best ways to allow buyers to access the home for sale can be the differentiator that seals the deal.
Whether you’re a seasoned realtor, a private seller, or an innovative tech entrepreneur, this piece will equip you with the tools and knowledge necessary to provide homebuyers with the access they need to make a home-buying decision.
The Importance of Access in Home Sales
Visiting a potential new home is the defining moment for most buyers; it’s where a property transcends its digital or print representation to become a physical space, a possible future. Therefore, facilitating this vital visitation process is not just about logistics but about creating an experience that resonates with the buyer personally and emotionally.
Before the advent of innovative technology, home showings were relatively simple affairs, often requiring the physical presence of the agent, potential buyer, and sometimes the homeowner. Here, we explore the historically used methods of providing property access.
Agent-Guided Tours
An agent-led tour is the most common and safest form of showing. It allows for personal interaction with the potential buyer, where the agent can highlight unique features and answer questions in real time.
Open Houses
Open houses offer a more casual viewing experience, allowing multiple potential buyers to peruse the property simultaneously. While they can be more efficient for the seller, the need for more privacy and security and the question of serious intent from the visitors can be downsides to this method.
Electronic Lockboxes
These smart lock systems allow agents to grant access through a digital key, keeping a log of who enters the home and when. Lockboxes offer a layer of security and convenience for the seller and the agent.
Virtual Tours
With the aid of virtual reality, potential buyers can tour a home from the comfort of their current residence. Virtual tours reduce the need for physical visits and offer an immersive experience that static images cannot.
Self-Guided Tours
Self-guided tours are a newer, innovative approach where interested buyers can schedule a visit and receive a one-time digital key to explore the home at their own pace.
By Appointment Only
Sellers can request 24 or 48-hour advance notice before a showing. Having advance notice benefits the seller but is not always an option for the buyer and their busy schedules.
Limited Access
There are situations when the home is only available for a few hours daily. This is the most difficult way to be able to show your house to potential buyers.
Call Liz
If you have a home you would like to view, call me, and I will find the best way to make that happen! Liz Norvelle (928) 458-4025
By adopting the strategies outlined in this guide, sellers and real estate professionals can streamline the home-buying process and provide buyers with the memorable and informed experiences they seek. The bridge between sellers and buyers has never been more accessible, and the possibilities for property access are as varied as they are exciting.
Why Renters Aren’t Happy
While there are financial benefits to owning a home, two recent studies showed that homeownership’s non-financial benefits might be even more valuable.
In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed that:
- More than 80% said they wouldn’t go back to renting
- 88% agreed that buying a home is the “best decision they have ever made”
- 79% believed owning a home has changed them for the better
There is “emotional equity” that is built through homeownership. The study concluded that more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeownership enhances the quality of life:
- 67% of current homeowners believed their relationships with family and loved ones have changed for the better since they bought a home
- 78% are satisfied with the quality of their social life
- 82% of homeowners said they were satisfied with the amount of time they spend on their hobbies and passions since purchasing a home
- 75% of homeowners pursued new hobbies after buying a home
Homeowners seem to be very happy. Renters Tell a Different Story…
According to the latest Zillow Housing Aspirations Report, 45% of renters regret renting rather than buying — more than five times the share of homeowners (8%) who regret buying instead of renting. Here are the four primary reasons people regret renting, according to the report:
- 52% regret not being able to build equity
- 52% regret not being able to customize or improve their rentals
- 50% regret that the rent is so high
- 49% regret that they lack private outdoor space
These two studies prove that renting is just not the same as owning.
Becoming Homeowners
But how do you make the transition from renter to homeowner? Here are a few steps you can take to achieve the dream of homeownership.
Establishing a Realistic Budget
Create a budget that considers down payment, closing costs, monthly mortgage payments, and day-to-day expenses. The goal is to strike a balance that doesn’t compromise your financial well-being.
Saving for a Down Payment
Saving for a down payment doesn’t have to be daunting. There are multiple tips to help you:
Automatic Savings: Business Insider suggests direct depositing a percentage of your paycheck into a savings account set aside for your down payment. They state that “the automatic-savings strategy makes it so you don’t have to remember to save money constantly.”
Learn where your money goes: Monitor your current spending to determine where you can trim the fat from your budget. For a month or two, track each expenditure, no matter how small. Get an objective picture of where you’re spending the cash.
Create a Goal: Talk to an agent or lender to determine how much you need to save and work towards that goal. Even if you’re not 100% sure what your down payment needs to be yet, it’s good to start doing a little math to figure it out. Pick a dollar amount and a timeline to hit that dollar amount.
Setup a separate savings account: Keep your dream home money from mingling with your regular checking or savings account. Establish a high-yield savings account with a credit union or money market account to protect and build your stash.
Pretend you already have a house payment. Once you determine the approximate amount of a new house payment, start making that payment now. Instead of paying the bank, pay your savings account. This trick is twofold: It will help you accumulate a down payment faster and ensure that you can afford the new house payment.
Bottom Line of Becoming Homeowners
There are both financial and non-financial benefits to homeownership. As good as the “financial equity” is, it doesn’t compare to the “emotional equity” gained by owning your home. I would be happy to talk with you about becoming a homeowner. Give me a call (928) 458-4025!
Enjoy Golfing in Prescott!
I love Prescott’s natural beauty. There are mountains to climb, trails to hike, and tons of different golfing options! Prescott is home to multiple beautiful courses for both amateur and professional players. Conveniently located near Prescott, the courses make it easy for residents and visitors to golf as often as they want!
If you’re planning a golfing trip to Prescott, I’ve included information on some of the popular courses below.
The Club At Prescott Lakes, Prescott Lakes
18 holes over 7,216 yards with a par of 72 (Private)
315 E Smoke Tree Ln
Prescott, AZ 86301-4419
(877) 643-3501
Capital Canyon Club, Capital Canyon Course Private Course
18 holes over 6,660 yards with a par of 71 (Private)
2060 Golf Club Ln
Prescott, AZ 86303-4957
(928) 350-3150
Antelope Hills Golf Courses, North Course
18 holes over 6,539 yards with a par of 72 (Municipal)
1 Perkins Dr
Prescott, AZ 86301-8458
(800) 972-6818
Antelope Hills Golf Courses, South Course
18 holes over 6,129 yards with a par of 72 (Municipal)
1 Perkins Dr
Prescott, AZ 86301-8458
(800) 972-6818
StoneRidge Golf Course
18 holes over 7,052 yards with a par of 72 (Public)
1601 N Bluff Top Dr
Prescott Valley, AZ 86314-1901
(928) 772-6500
Talking Rock Course
18 holes over 7,350 yards with a par of 72 (Private)
15075 N Talking Rock Ranch Rd
Prescott, AZ 86305-5681
(877) 922-4440
Prescott Golf Club
18 holes over 6,783 yards with a par of 72 (Public)
1030 N Prescott Country Club Blvd
Dewey, AZ 86327-5801
(800) 717-7274
Quailwood Greens Golf Course
18 holes over 5,258 yards with a par of 67 (Public)
12625 E State Route 69
Dewey, AZ 86327-4530
(928) 772-0130
Live Where You Golf
Below are a couple of golf subdivisions in the Prescott area. If you don’t see what you are looking for here, let me know; there are several other communities in Prescott to choose from!
Antelope Hills, Prescott
Antelope Hills is a small golf community located on the 36-Hole Antelope Hills Golf Course in Prescott, Arizona. This quiet community, conveniently located at the crossroads of Highway 89 and Highway 89A, is just minutes from historic downtown Prescott, the Yavapai Regional Medical Center, and the Embry Riddle Aeronautical University. Antelope Hills residents can enjoy the nearby hiking trails in Pioneer Park, Watson Lake, and Heritage Park.
Hassayampa, Prescott
Copper Canyon Village is tucked away in Prescott, Arizona’s tall pines and granite boulders. The gently rolling terrain, the panoramic views, and the tall Ponderosa pines are just a few reasons Copper Canyon is a popular community. Located on the southwest side of Prescott, Copper Canyon is minutes from dining and the quaint shops on the historic Prescott Courthouse Square. There are only 102 lots in this custom subdivision, with several still available to build.
Prescott Lakes, Prescott
Prescott Lakes is a master-planned Residential and Private Golf Community in the heart of Prescott. This popular community has 13 gated and non-gated neighborhoods. The Arnold Palmer Golf Management Group manages the Hale Irwin Signature Championship 18 hole private golf course winding throughout home sites in Prescott lakes. Condos, townhomes, patio homes, custom-built, and estate homes surround the par 72 golf course. Residents can enjoy swimming indoors and outdoors with 30-meter lap lanes, a large open swim area, and a 169 square-foot whirlpool Spa.
Quailwood,Dewey-Humboldt
Quailwood in Dewey/Humboldt, Arizona, is a premier master-planned community located a few miles east of Prescott Valley. This growing community has beautiful views of the Mingus and Bradshaw Mountains. Homes in Quailwood offer townhomes and site-built homes ranging in size from around 1200 sq. ft. up to about 3200 sq. ft. Quailwood offers Tennis Courts, Basketball Courts, an Outdoor Pool, Spa, a Hot Tub, a Workout Room, Community Kitchen, Meeting Rooms, Horse Shoes, Volleyball Courts, a large covered patio, and two Children’s Play Parks.
Prescott Country Club, Dewey-Humboldt
In Dewey-Humboldt, Arizona, the Prescott Country Club is nestled in the golden panoramic valley between the Mingus and Bradshaw Mountain Ranges. This popular subdivision is located at the Fain Intersection and Highway 69, a few miles east of Prescott Valley, minutes from the Prescott Valley Event Center, and only a few miles from the Yavapai Regional Medical Center. This well-established neighborhood is home to one of the top-ranked golf courses in Northern Arizona. Prescott Country Club offers amenities like a clubhouse, fitness center, outdoor pool, restaurant, tennis court, and low monthly HOA dues.
Give me a call, I would love to help show you all that Prescott has to offer! [See Homes For Sale in Prescott]
Liz Norvelle
(928) 458-4025
Be Safe When Using Your Mobile Phone
In today’s digital age, cell phones have become a staple in our daily lives. No matter where we go, everyone has their trusty device glued to their hands. From texts and calls to social media scrolling and online shopping, cell phones have made everything accessible with just a few taps of our fingers. However, with the convenience comes a hidden danger that often goes unnoticed – the potential risks associated with using cell phones regularly. So grab your phone and read how to keep yourself safe.
The convenience of mobile devices also comes with risk. As you check-in, text, share photos, and increasingly run your life on the go, you may inadvertently expose private information or make yourself more likely to be a victim of a crime. Here are four things you should be aware of as you use new mobile and social technology that might spare you expensive or embarrassing lessons:
1. Watch “checking in” through social media.
Apps like Foursquare and websites like Facebook allow you to “check-in” when you’re out and about, effectively broadcasting where you are… and where you’re not. Be especially sensitive to checking in from airports and locations far from home. Enterprising thieves can use this information to target your home or business.
2. Evaluate Photos You Share on social media.
If a picture is worth 1,000 words, what are your pictures on Facebook saying to friends, family, and co-workers? Just like checking in when you’re out of town, vacation photos posted in real time can inadvertently let people know you’re not home.
3. You must log out of public computers.
Have you ever checked your email in an internet cafe or hotel computer? Did you remember to log out? Closing a browser window isn’t usually enough. People who open the browser can often waltz into your email account because your “session” is still active. Remember to click “log out” or “exit my account” when logging into private accounts through public machines.
4. Password protect your device.
Smartphones now carry the sort of data you used to keep under lock and key in your home office or closet safe. If your devices are lost or stolen, how much of your private information could be exposed through your device?
First and foremost, add password protection to your device in case it is lost. Most have a setting you can activate, forcing someone to enter a code before accessing the apps and data on the device.
Second, consider adding an app or service to track your device via GPS if lost or stolen. Depending on your device, many options exist to help locate your smartphone if it disappears. To find an app specific to your device, try Googling (without quotation marks): “app tracks stolen [device name]” where [device name] is replaced with your brand of smartphone (iPhone, Android, Blackberry, etc.).
These tips will help to keep your mobile phone data safe. It is essential to remember that your online security and privacy should always be a top priority. As technology evolves, so do the steps to protect yourself. Remembering these steps while using your mobile phone will help you keep you safe. And if you ever need tips or advice about real estate – don’t hesitate to give me a call – I’m always happy to help!
Liz Norvelle
(928) 458-4025
Think Before You Shop
It starts innocently enough… you pass a house in a neighborhood you like; you hear someone is selling their home, and you happen to look up home prices online. Before you know it, you’re knee-deep in home shopping and open-house visits. This off-the-cuff approach can be exceedingly dangerous to your financial future.
Falling in love with a home before you know what you want in a house is risky. To avoid the “buy first, think later” syndrome that burdens family finances, marriages, and work life, ask yourself these critical questions:
1. How much do you want to spend monthly on home expenses? There’s a tendency for people who shop first to try and “make the math work” on purchasing a home. This approach often stretches the home budget and ignores crucial expenses such as maintenance and property taxes to “make the mortgage.” Determine a comfortable, conservative range for home expenses first.
2. Which neighborhoods make sense from multiple angles? You may love a neighborhood for its leafy streets and family-friendly atmosphere, but what if it adds thirty minutes to your commute? Are the schools good? What are the crime stats like? What’s the walkability score? Don’t view a neighborhood with rose-colored glasses based on a single quality you like.
3. What’s a priority, and what’s a nice extra? You may want extra bedrooms for guests and a home office, but which one is more important? Rank the “must-haves” against the “nice to haves.”
4. What does our long-term ownership picture look like? Are you settling in and planning on staying in the home for ten years, or do you suspect you’ll need to move in four? While you can’t predict the future, you can make some estimates. Those estimates will help you understand how much home you should buy, what kind of down payment you’ll want to have, and what the picture might look like regarding renovations.
5. When can you move vs. when would you like to move? Rental leases, selling your current home, and job and schooling factors all impact the timeline for a purchase. Wrap your head around the pragmatic timeline as best you can.
I’m more than happy to help you think these through. Contact me for help today: Liz Norvelle (928) 458-4025
Use AirBnb to Sell Your Home
If you stop to think about it, selling a home is a strange endeavor. You’re asking prospective buyers to make a considerable investment in your house without the experience of actually living there. Yet this is standard procedure. Buyers make offers after showings without spending a single night in the home where they plan on living!
Now, there’s an emerging marketing trend designed to take some of the ambivalence out of buying a home. Some sellers are letting prospective buyers “live” in their house for a few days to see if the home is right for them.
AirBnB is one platform that makes this strategy possible. Most effective for sellers who have staged their house and are not currently living in the listing, the approach is direct: Sellers list the home on AirBnB, and when they have an interested buyer, they arrange a temporary “rental” of the property. This way, the buyers get to spend real time in the home. They are allowed privacy, the chance to see what it’s like to sleep in the house at night, and use the facilities just as they would if they owned the home.
While the approach goes a long way to calming buyer fears, the idea is not without its critics. For one, not all brokers may be comfortable with this approach. Obviously, having prospective buyers temporarily rent the home can create difficulties in showing the home to other buyers when the property is rented.
Also, infrequent horror stories are associated with this type of short-term rental. Home damage and even squatters who refuse to leave have happened to people listing their property on AirBnB. Finally, potential legal complications relate to short-term rentals in specific communities. Nonetheless, thousands of people have offered their short-term rental with no problem.
You can see the appeal, though. There’s a real potential for buyers to build an emotional attachment to your home if they spend a little vacation time there together while evaluating the property.
What do you think? Would you AirBnB your home if it gave you a selling advantage?
AirBnB’ing your home is hardly the only strategy for a quick, competitive sale. I have a full range of marketing and sales techniques to help you sell! If you’re thinking about selling soon, get in touch to see what I can do for you! Liz Norvelle (928) 458-4025
Navigate Buying a Home with Multiple Offers
If you’re considering buying a home today, you already know that the number of homes available for sale is low. But what does that mean for you? As a buyer, low housing supply coupled with high buyer demand means you need to be equipped to navigate a highly competitive market where homes sell fast and get multiple offers.
Multiple offers on homes for sale have become the new norm in today’s market. If you’re looking to buy a home, here are four tips to navigate the competitive market:
1. Make sure you have your finances in order. To make a strong offer, you must be pre-approved for a mortgage and have your down payment ready.
2. Know what you want and be prepared to compromise. Don’t waste time looking at homes that don’t fit your needs, but be ready to compromise on some of your must-haves.
3. Stay organized and keep track of all your offers. Being organized will help you monitor your competition and ensure you’re making your best offer.
4. Be prepared to move fast. When you find a home you want to make an offer on, you’ll need to act quickly in a multiple-offer situation.
Following these tips will help you navigate the competitive market and increase your chances of buying the home you want.
Doing everything you can to get ahead of the competition in a bidding war is wise. When you find a house and submit an offer, it’ll likely be up against strong offers from other buyers. According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), homes today receive an average of 3.9 offers.
Here are three tips to remember that will help you make the best offer possible.
1. Knowing your budget and what you can afford is critical to your success as a homebuyer.
2. When homes are selling fast, staying on top of the market and being ready to move quickly is essential.
3. Lean on your agent to write a strong offer and use their expertise on which levers you can pull to make your offer as enticing as possible.
An expert real estate advisor is vital to help you navigate bidding wars with multiple offers. They know what’s worked for other buyers, what sellers are looking for, and how to help you prepare when it comes time to make an offer.
