Summer isn't the only reason it's getting hot out there. As the pandemic subsides and life renews, the inventory of existing homes remains tight. This is creating a superheated real estate market from coast to coast. Whether you are a first-time homebuyer or a seasoned pro, there's no reason to be intimidated by the competition. By adjusting your strategy and patiently conducting your search, our agents can help you find the perfect home. 

Buying in a Seller's Market

Right now, homeowners can expect to receive multiple offers on their property within days, and in some cases, hours after listing their home. Houses are moving quickly, and they're moving at, or above, the listing price. This means that it is the seller's choice on who they elect to sell their home to, and that means that to make a deal, you need to take extra steps to seal the deal on the Bakersfield homes for sale you have your eye on.

Since you can expect to compete for the property of your dreams, you should start by getting your ducks in a row, and that means getting preapproved for a mortgage. Not only will this tell you precisely how much your lender will put on the table, but it will also tell you precisely how much house you can afford. This will help you narrow your search to only those homes within your price range.

The advantage of this is it can make you more nimble and make your decision easier when you find the right home that checks most (if not all!) of your boxes. Preapproval also means you can put an offer on the table that appeals to the seller. When the seller knows that you can close the deal, they are less likely to hesitate to accept your offer. It also means you can put in an offer first and faster than the Jones' who have their eye on your dream home.

It is also important to be patient and be personable. You may not get the first home you want or even the 10th, but you will find a great fit as you continue searching. Staying personable is also key. This will help you make a connection with sellers. In fact, it's always a good idea to write a brief email to the seller after you look at their home to tell them a little more about yourself, the things you appreciate about the home, and the way you plan to use it. Creating a personal connection can move your offer to the top of their list.

Act Fast, and Act Decisively

When you find a good fit, make an offer. The sooner you act, the sooner the seller can accept your offer. Unless the home has significant structural damage, don't ask for concessions. And, be ready to break out your billfold because the average listing is currently selling for 1% or more than the listing price.

Be Prepared to Go Around the Competition

There are plenty of homes that have sat on the market for longer than the average listing. Maybe there is a minor defect, maybe the landscaping needs work, or perhaps the basement smells bad. Whatever the reason, there are opportunities to pick up homes that aren't perfect but are certainly fixable. Going through these with a seasoned real estate agent can spark ideas that you can incorporate to transform an ugly duckling into your dream home.  

When you are ready to dive into the warm waters of the real estate market, contact us, and we will guide you through the process. Our real estate agents can help you narrow your search and put in an offer that sellers will accept.