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Call Team Allen at 302-355-1868 orFor More Details Of These Homes Go To TeamAllenRealEstate.com.click below to Search for your new home.One Of These Homes Could Be Yours. Call 302-355-1868 To Make It Possible.For More Details Of These Homes Go To TeamAllenRealEstate.com.KW Office: 302-738-2300 Ext. 1868
Explore A Wealth Of Information That Will Help You Find A Home
Check Out The Market In The ZIP Code You Want To Live. To Find Out More About Homes In Your Zip Code Market Call Direct: 302-355-1868 Click Below We Can Help You Make A Smooth Transition Into Your New Home Call Us Direct: 302-355-1868 KW Office: 302-738-2300 Ext. 1868 How to Submit a Competitive Offer With inventories of available homes sliding ever downward, real estate markets across the country are becoming more competitive. It seems like only yesterday that buyers were in the driver's seat, able to take their time with the purchase process. Today, it's a whole different story. Nationwide, the inventory of available homes has shrunk to its lowest level in 13 years. At the same time, mainly due to low interest rates, buyer interest is at 2010 levels. Naturally, when demand outstrips supply, prices rise, and we're seeing that happen all over the country. Inventory contraction also brings about another problem: There are more buyers competing for fewer homes. The current real estate market calls for different strategies than you might have used in the past. Let's take a look at some of the ways you can become more competitive in a seller's market. Talk to a Lender Getting preapproved for a mortgage does a lot more than show you how much home you can afford. It also shows a seller that you are a serious buyer and that the transaction won't be held up because of financing. Faced with a buyer who is preapproved for a mortgage and one who isn't, the preapproved buyer will typically win. Don't be confused between prequalification and preapproval. Prequalification just lets a buyer know how much of a loan he or she might get, without relying on documentation. A loan preapproval, on the other hand, is based on the buyer's income, assets and credit and thus tells a more realistic story. See a lender and ask for a letter of loan preapproval. You'll submit that letter with your offer, giving you the edge over those who haven't taken the time to follow this step. Your Real Estate Agent Successfully dealing with multiple offer situations takes experience. An experienced real estate agent can counsel you on how to structure your offer, give advice on how much to offer the seller, and advise you about the pitfalls. Contract Terms There is an old saying in real estate circles: "The first offer is the best offer." While this may be true in some markets, it isn't in a seller's market, when a homeowner is receiving multiple offers in a short period of time. More appropriate right now is this statement: "A clean offer is the best offer." A clean offer contains few contingencies and the promise of a quick close, or at least a close that meets the seller's needs. It does you no good to come in at or above the list price if your offer is weighed down with requests for seller concessions, or if the purchase is contingent on the sale of your current home (that's an especially big deal-killer).