07/19/2020
HOW TO PREPARE FOR A SELLER’S MARKET
Without a doubt, we are 100% in a seller’s market right now in DFW. Historically low interest rates have buyers literally flocking to the housing market making it a great time to sell. With increasing sales, home values, and offers – it’s important to know how to effectively navigate a seller’s market.
What is a seller’s market?
A seller’s market is when the number of buyers wanting properties exceeds the current supply. In this type of market homes typically sell faster and for a higher price. Often, sellers are faced with the option to consider multiple offers and counteroffer for higher prices.
So what should you do as a buyer?
1️⃣ GET PRE-APPROVED
This is one of the best ways to prepare for a seller’s market. Getting pre-approved will give you a clear understanding and a realistic picture of what you can afford to spend on a home. It also helps your offer stand out and look more serious to sellers.
2️⃣ WORK WITH A REAL ESTATE AGENT
Whether it’s your first time purchasing a home or you’re a home buying vet, working with a great REALTOR® (i.e. Me 😊) will ensure you enter this competitive market with the proper guidance and knowledge necessary to purchase your home with little to no hiccups.
3️⃣ BE PREPARED TO MAKE A QUICK DECISION
In a seller’s market, one of the most challenging things you’ll have to prepare for is making a quick decision. Quick decisions can be the difference between you being able to get your dream home or not. Therefore, to make things easier, it’s beneficial that you determine your home priorities well ahead of time.
4️⃣ BE PATIENT
Realistically, it may take some time to find your dream home. Try not to be discouraged if your house hunting journey takes longer than you initially expected. It’s best to constantly stay on the lookout for new properties entering the market and once you find the perfect home, make an offer as soon as possible.
Thinking about buying or selling your home? Feel free to contact me and let’s talk about your next steps.
Kristen Clark, REALTOR®
JP & Associates REALTORS®
📧 [email protected]
Call/Text: 972.379.7269