HOMEWARD BOUND AUGUST 2023
August 2023 - You do not have to be a weather person to predict the weather this time of year. We all know… it is the hottest time of the year. But that is not all that’s hot. The economy is hot too.
This is GOOD for most reading this, but there will be some exceptions. There always are. An example could be someone will sell a house and make out great, meaning a buyer pays a bit more than they would have not too long ago. And in some areas, the opposite happens. Seller does not make out that great, but the buyer does.
Most homeowners who do NOT have to sell of course know this and will hold back on buying or selling. That will of course impact supply and demand. Results right now? RED HOT opportunities!
IF YOU OR A FRIEND ARE THINKING ABOUT SELLING, MAKE SURE TO CHOOSE A REAL ESTATE COMPANY YOU CAN TRUST!
A real estate company with experience, proven results and a give-back philosophy!
How does this impact you? Well, it is a HOT time to invest in real estate. Single family, multi-family, even farmland. If you did not get the memo, here is a special clause from our Buyer and Seller Agreements of our VIP Client Program enabling past clients of ours to create additional wealth thru real estate.
VIP CLIENT PROGRAM: Seller _ does OR _ does not wish to participate in Broker's VIP Client Real Estate Investor Program (REIP), whereby Seller will receive notices of free real estate investor trainings and notices of real estate investment opportunities by mail, email or phone at times when investment
opportunities arise. Seller may opt out of The REIP at any time. Seller is never obligated to invest in real estate.
So, if you or anyone you know like the idea of making money in real estate using other people’s money, please contact us right away… while these HOT investment opportunities are available.
Making gains in assets and wealth are nice! I especially like it because it allows me the opportunity to GIVE more. How about you?
As you probably know, we donate a portion of our income to some AMAZING worthy causes! Like Rotary Foundation, Canine Castaways, and Shop with a Cop!
Tips for Making Your Best Offer on a Home
August 2023 - While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mirror, but you may still come up against some multiple-offer scenarios.
Here are a few things to consider to help you put your best foot forward when making an offer on a home.
1. Lean on a Real Estate Professional
Rely on an agent who can support your goals and help you understand what’s happening in today’s housing market, August 2023. Agents are experts in the local market and on the national trends too. They’ll use both of those areas of expertise to make sure you have all the information you need to move with confidence.
Plus, they know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out. As an article from Forbes says:
"Getting to know a local realtor where you’re hoping to buy can also potentially give you a crucial edge in a tight housing market."
2. Get Pre-Approved for a Home Loan
Having a clear budget in mind is especially important right now given the current affordability challenges. The best way to get a clear picture of what you can borrow is to work with a lender so you can get pre-approved for a home loan.
That’ll help you be more financially confident because you’ll have a better understanding of your numbers. It shows sellers you’re serious, too. And that can give you a competitive edge if you do get into a multiple-offer scenario.
3. Make a Fair Offer
It’s only natural to want the best deal you can get on a home. However, submitting an offer that’s too low does have some risks. You don’t want to make an offer that will be tossed out as soon as it’s received just to see if it sticks. As Realtor.com explains:
“. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent, can do.”
The expertise your agent brings to this part of the process will help you stay competitive and find a price that’s fair to you and the seller.
4. Trust Your Agent’s Expertise Throughout Negotiations
During the ‘unicorn’ years of housing, some buyers skipped home inspections or didn’t ask for concessions from the seller in order to submit the winning bid on a home. An article from Bankrate explains this isn’t happening as often today, and that’s good news:
“While the market has largely calmed down since then, sellers are still very much in the driver’s seat in this era of scarce housing inventory. It’s not as common for buyers to waive inspections anymore, but it does still happen. . . . It’s in the buyer’s best interest to have a home inspected . . . Inspections alert you to existing or potential problems with the home, giving you not just an early heads up but also a useful negotiating tactic.”
Fortunately, today’s market is different, and you may have more negotiating power than before. When putting together an offer, your trusted real estate advisor will help you think through what levers to pull and which ones you may not want to compromise on.
Bottom Line August 2023
When you buy a home this summer, let’s connect so you have an expert on your side who can help you make your best offer.