If you have been looking to buy in Boulder County or the surrounding areas, you’ve probably picked up the fact that it’s a seller’s market? What does this mean? Well, it simply means it tends to be easier to sell you home than to buy one. There is more demand than their is supply. This can be quite frustrating for even the most qualified buyers, so today’s I’m offering up some tips if you’re in the market to buy and you are motivated to do everything you can to make sure you’re coming out smelling like roses.
1) Manage Your Expectations
While you can definitely get lost and overwhelmed doing online house hunting, it doesn’t hurt to do a little research both on your own and with your Realtor. Not only will it help you to have a pulse on the price point for homes you are looking for, but knowing how quickly homes are moving, what they’re selling for, and their price trends will help you manage your expectations. While it’s true that you cannot always predict the outcomes, working with your realtor to do your research will help you manage your expectations and therefore you will feel more confident in making decisions throughout the process.
2) Stand Out
When you are navigating a seller’s market, often times you will be in a situation where you are not the only buyer who has made an offer. What do you do then? Do you just cross your fingers and pray? Maybe, but there are other things you can do to stand out and know that you put your best foot forward. In this market it’s advantageous to come prepared with a solid pre approval or cash at the ready, a letter describing why you’re the perfect buyer for the home, and a realtor who can communicate quickly, clearly and professionally with the sellers. In this market, it’s crucial to stand out if you want things to go your way!
3) Be Ready To Make a Move
Once you’ve done your research and you’ve worked with your agent to ensure you stand out, now it’s time to make a move. It’s not uncommon in this market for home to go under contract in mere hours or days, so it helps to be ready to move quickly. Some clients are comfortable with swift decisions and others need to build in more time to crunch numbers, do research and talk things over, but whichever way you tend to lean, make sure you are working with your Realtor to create a timeline that your comfortable with so that you can be ready to move quickly when the time is right.
Are you looking for a Realtor to guide you through this process? Contact me for a consultation to see if I’m the right fit for you. I’d love to help.