The Housing Market is Hot this summer according to Realtor.com so if you plan to purchase a home there are a few things you need to know:
1. You need to understand there are less choices because there is little inventory in many markets and multiple offers on many properties. It is important to work with an agent that knows the market and is super focused on you and will let you know as soon as property comes on the market or is about to come on the market if possible.
2. Be patient because in this market your home might require the seller requiring additional time to move so you might be required to find temporary accommodations.
3. Tight markets mean it usually takes more time to find your dream home so put your best foot forward and be prepared to make your best offer your first offer because there may not be an opportunity for a second offer. The seller may be receiving numerous offers.
4. You should show the seller you are serious with your pre-approval in hand and proof of funds at the time of your offer. If you are getting a loan you should show the sellers with your pre approval letter plus being fully approved through underwriting prior to presenting an offer. They will understand you are serious and ready to purchase their house.
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