What Buyers Need to Know in Today’s Market 2016
The Market is HOT! Here in California finding a home can be very difficult for a number of reasons; not only is the supply of homes very low but many buyers are seeing their offers beaten out by cash investors. In a market like today’s, many buyers are spending months searching for homes, writing multiple offers, and still missing out. Here are a few things that must be included in your offers if you are going to compete in this market…
First, every offer you make should include a Lender Approval Letter. This one is a no-brainer; we are seeing homes receive 3-7 offers within the first two weeks! There isn’t a seller crazy enough to accept an offer without knowing there is a good chance that the buyer is going to close. Seeing that you are the proactive type and already doing your research, I know you aren’t the type to make this mistake. Buying a home is an exciting experience and it’s understandable to get ahead of ourselves. Take your time to shop around for professionals; some lenders can make your offer even more appealing by shortening the time to close, others can help cover a portion of your closing costs. You don’t want to miss out on a good deal because you are under the gun. Remember, “Poor preparation provides poor performance”; don’t take the chance of missing out on your dream home.
Even with lender approval, you still have to compete with other educated buyers. That is why I recommend my buyers add a little personal touch to their offers; I am sure you have many happy memories in your home and would like to know it is going to a good owner. My clients Ashley and Luis had put in several offers, were searching for months, and coming up empty. For their next offer, I asked them to write a heartfelt letter to the seller. Nothing too fancy, just a few details introducing their family, why they chose their house, and how excited they were to move to the neighborhood, just to add a little personality. Both the sellers and listing agent were eager to work with us and my clients’ offer was finally accepted. The best advantage you can have is a good relationship with the owner and an agent with the reputation of being reliable.
Best of luck! I hope these strategies help you get your offer accepted and the buying process is an exciting and enjoyable experience for you and your family and you find a great home.
Pictured: 45590 Anza Rd. Temecula CA 92592 (Currently Listed)