The Sudbury Real Estate market is swaying far into the sellers market territory at the moment. It may not be the most ideal time to buy a new home for many people, however you may not have a choice. The most important thing to do before you buy in this market is be informed and have a strategy going in. Here are a few suggestions I have for anyone investing in real estate in a sellers market (less houses for sale, more people looking to buy).
- Be prepared to put in an offer over the listing price. Most houses are getting multiple offers and yours needs to stand out from the rest.
- Make sure you have everything in order before you put in an offer on a property. Approval for financing is a key component to an attractive offer, the less conditions you have to delay the deal the better.
- Don’t delay seeing a house you like, if something comes on the market make sure you see it right away. Often times houses are selling quickly and if you don’t get in right away you might miss out!
- Don’t try to navigate this market on your own. Things are changing everyday in this market and you need someone who’s in it everyday seeing the changes and pivoting with them. Make sure you have a licensed realtor on your side.
- Set your sights on listings below your budget. Since most houses are selling above the listing price, try to look at listings with enough wiggle room to make an offer above asking if need be. Looking at listings at your highest price point will likely result in disappointment and frustration when your offers are rejected.
All real estate transactions require individual attention and consideration, so not all of these tips will apply. Give me a call if you want me to help you out with your next purchase or sale!