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3 Tips for Buying in Today’s Market

Buying a Home in Today’s Market

Buying a home in today’s market can be difficult. Yes, officially it’s a Seller’s Market, but that doesn’t mean you shouldn’t buy! The thing is, you need to be strategic, prepared and patient – those are key.

Planning, so you know what to do and when can make all the difference between succeeding and, well… not succeeding.

While COVID-19 has hit certain areas of the economy pretty hard, the residential real estate market has done very well. That means consumers are still buying and selling homes despite the pandemic. In fact, 56% of homes sold in April – at the height of shut downs – were on the market less than a month. In September of 2020, the Metropolitan Indianapolis Board of Realtors reports the average days on market is at 27 – still less than a month!

3 Tips for Buyers in Today’s Market

In the spirit of helping, here are 6 Tips for buying a home in today’s market.

1 – Be READY!!!

In today’s market, homes that are priced right for their condition are selling in hours and days! We don’t have the luxury of waiting even a week, sometimes. If you are in love with a home, be ready to make an offer right away.

2 – Expect Competition

In a local market with less than a month’s worth of inventory of existing homes for sale, all buyers are watching and ready to pounce as soon as a home hits the market. You can stay a step ahead of your competition by referring to tip #1!

3 – Patience can Pay Off

Homes that have been on the market more than 30 days can offer an opportunity for you. Sellers are more likely to negotiate on price, especially if they need to move on!

Additionally, you’ll save time if you scrutinize the online photos, videos and information about the home before you go see it in person. Clarity around knowing what you need (and want) in your next home, can save you time by not running around to look at homes that don’t fit the bill for you financially or with features.

Ready to start your story? We are here to assist by helping your find your next home or by selling your current home. Visit our 3 step plan for Buyers and/or our 3 step plan for Sellers and let’s get started today!