Realtor - Amanda S. Davidson: Tips For Home Buyers In A Seller’s Market

Tips For Home Buyers In A Seller’s Market

Tips For Home Buyers In A Seller’s Market

Many areas are experiencing extreme seller's markets right now and Alexandria is no exception. How can you prepare as a buyer who is looking for a home in a seller’s market?

 

Get Pre-Approved – the market is moving very quickly and when you find the home you want to make an offer on you need to act quickly. If you have to wait one to two days to make an offer because you’re waiting for a pre-approval you risk the house going under contract. Sellers are not going to consider an offer that doesn’t have documentation included showing that you qualify to buy their home.

 

Home Buyer Tips


Be Prepared For Competition – in a seller’s market it can be a good idea to focus on homes that are slightly below what you want to spend. Multiple offers equate to homes being sold for above list price and by looking slightly below your budget you leave yourself room to be competitive if you want to offer above list price to appeal to sellers.

 

Tips For Home Buyers in A Sellers Market

 

Do Not Delay – go with your instincts when you find the right home don’t delay in making an offer, especially if it’s a new listing and getting a lot of traffic. Homes that show well, are priced correctly, and easy to show are moving in a matter of days. In the current market conditions not acting quickly when you know it’s the right home can mean you never get a chance to make an offer.

 

Home Buyer Tips

 

Best Offer – a seller’s market is not the time to test the negotiation waters. This will vary for each home and you should consult with your agent on offer terms. If the home has only been on the market a couple days or if you know there are multiple offers always put your best foot forward when making your offer. You might not get another chance to improve it and want to have the best shot at the sellers selecting your offer to work with.

 


 

Read our full article on tips for buyers in a seller's market. 

 

 

 

Amanda Davidson Real Estate Group

 

 

      

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

5680 King Centre Drive #600
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




Comment balloon 16 commentsAmanda S. Davidson • March 02 2018 08:46PM

Comments

Good Morning, Amanda! I love this post and you certainly have great tips covered for buyers in a hot Alexendria sellers' market! Wise advice to shop a bit below where you want to wind up so that you're not going over your budget or where you simply want to land on pricing too. That piece of advice can save a lot of heartache for many!

Happy Monday!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 10 months ago

Great advice, and worth repeating regularly in a sellers market.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 10 months ago

Happy Monday Amanda, Ones again you did  excellent job with the post and the cards..  Love it !

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 10 months ago

Good morning Amanda S. Davidson 

Thank you for sharing your information with us

Have a great day.

Posted by Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker (Harry Norman, REALTORS® ) 10 months ago

This seems to hold true in any market, I have had buyers that wanted to take their time in a slow market because the house had been on the market for a while already, but by the time they were ready to make an offer they had competition and lost out.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 10 months ago

I hope home buyers will read this post and call you. 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 10 months ago

All great advice!  I also tell my buyers, not to get wrapped up in the fast paced market and just buy ANY house.  Buy the house that's right for you.  Homes come on and off the market everyday.   When you do find the right house, you have to strike and strike fast with a solid offer.

Posted by Shawn and Angela Miller, Lincoln and Omaha, NE REALTORS® (Berkshire Hathaway HomeServices Amabassador Real Estate) 10 months ago

Amanda, this is always good advice. My market is busy with buyers looking under $200K. The other listings will take longer to sell.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty, Martha Hilton, Broker) 10 months ago

Good morning Amanda.  Buyers in a hot seller's market should read this and take your advice.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 9 months ago

Amanda, great tips, and sounds like your home buyers are experiencing the same scenario.    You nailed this one again!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 9 months ago

Hi Amanda, thanks for sharing the tips, they are "right on" in my opinion.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) 9 months ago

Great advice...thanks for sharing and have a wonderful day.

Posted by Golden1 Agents 9 months ago

Amanda S. Davidson - This is great advice. Low inventory + More buyers = only one can win to own. Why be a back-up or have no chance at all. Your formula is a winning recipe!

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) 9 months ago

Amanda I would have missed this great post if it was not for our friend Gabe Sanders  reposting it, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 9 months ago

Good morning Amanda S. Davidson,

What a well written post covering all the basics and sound advice for buyers!The piece of advice about  shopping under your budget in a seller's market can save a lot of heartache for many!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) 9 months ago

Amanda, you have done a great job with this post. Buyers need to be prepared to move quickly in this competitive market 

Posted by Joyce Marsh, Daytona Beach Florida Real Estate, Daytona Beach Area Coastal Homes and Lifestyles (JOYCE MARSH REAL ESTATE LLC) 9 months ago

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