Be Ready To Make a Decision When It Is Time to Buy!
The home sales market in Spokane has been great for buyers and sellers in the past year and a half. 2003 was a record year for homes across the nation and also in Spokane County.
One of the sure things about a good home in this fast-paced market is that it probably will be sold quickly. Many homes so far this year have had new owners pay cash for a place that was sold in one day after listing.
Year-to-date statistics on closed sales in the first half of 2004 are up. This year 3,378 homes have been sold compared with 3,074 sold a year ago. Prices are up, too, with the average price of home at $150,260 in June. New home sales are also up. Through June of this year, 457 newly-constructed homes were sold compared to 376 new homes sold during the first six months of 2003.
So, if you are looking for a home, new or occupied, how can you turn it into a successful purchase? The basic word is “TIMING”.
The reason timing is so important now is because there are things necessary for a purchase of a home that some of your competitors may have already completed. They are ready to buy.
Things like getting pre-qualified for a mortgage. You can usually get a letter from your mortgage company that will tell the selling agent that when you make your offer, it will be a firm offer to purchase. If you want the home, you may beat others to the purchase by being prepared.
Get yourself ready to make a decision and to answer some questions: What kind of home do you want? Where? How many bedrooms? What style? What price? In which neighborhood? What schools? Questions like these will guide you in finding what you want and where you want it to be.
Stay in close touch with your REALTOR®. Interview as many as you want, then choose one agent from among all in the area. If you don’t know any of the agents, ask a friend who just bought or sold a home and check out how the REALTOR® performed. Have a meeting and if you are impressed with the person, give them a chance to show you how good they are.
The most interesting condition about hiring an agent is that you owe them nothing if they cannot perform.
So how can you go wrong with a person wearing the REALTOR ®?
Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer. The skill of a buyer is to bid well. It is better not to start out offering the absolute highest price you can afford. However, don’t try to go too low either. When the market is tight, you might lose out on the home you finally found that is right for you.
Also, in a tight market, you’ll probably be able to sell your house quickly. Try to stay away from contingencies if you can. Delays in your purchase time may make your offer unappealing.
Your REALTOR® will probably be your best asset in finding the home you desire. He or she will have access to all of the homes available to buy. That’s part of their job. Make good use of them.