Tag: Hot Market

It’s a Hot Market Summer

We’ve had a hot summer with an even hotter housing market! Unless you’ve been living under a rock, it’s been a wild ride watching homes literally fly off the market after barely being listing one day! One day, y’all! JUST ONE! I’ve been in more multiple offer situations this summer than I have ever before with not only my buyers, but my sellers as well. I’ve also never been able to get more first-time home buyers in homes than I have ever before. Rates are low meaning that money is cheap and homes are moving! I love, love helping buyers and sellers alike, but here are some of my fun closings with first-time home buyers this summer.

With barely seconds on the market, homes are being shown up to 10 times in one day with multiple offers, leaving lots of stressed out and disappointed buyers and agents. It doesn’t help that our inventory is LOW – meaning that there’s not a lot of homes on the market to choose from. So basically, when a good home hits… it’s GONE! This hot market summer (as I like to call it – playing off the infamous TikTok dance of Hot Girl Summer), has lead to frustrations and some buyers just wanting to throw their hands in the air and be done with the search. I get it! You want your home and you want it NOW with zero competition and stress.

Hot market summer is NO JOKE and I’m going to share ways to stay calm, stay positive and get that home you’ve been dreaming of. Buying a home is already stressful enough, so let’s cut through the tension and tears and get you that home!

HAVE PATIENCE. Yes, young grasshopper… have patience! Your real estate agent wants you in a home as badly as you do. With low inventory, homes moving faster than lightning and multiple offer situations becoming almost expected… so give everyone a little grace and kindness.

PAY ATTENTION. Do you have apps like Realtor.com downloaded? Do you regularly check your emails or texts for messages from your agent? Be aware of what’s hitting the market and if you see something that hit before your agent did, LET THEM KNOW! They’ll get you scheduled to see the home ASAP!

BE TIMELY. When a home hits the market, be as urgent as your real estate agent is. Be transparent with your agent when you can and cannot fit touring homes in your schedule. There will be some homes that your agent may want to show you the day it hits if it’s the perfect home for you, so respond to the emails, texts or calls in a timely manner and get in that home!

MAKE IT ATTRACTIVE. Know the difference at the beginning of the home buying process of what you need in order to buy a home and what you want. For example, you and your lender will discuss if closing costs assistance is a necessity. Do you really need to seller to purchase that ~$600 home warranty for you or could your offer be more appealing if you paid for it yourself? What about that refrigerator… Is it something you desperately need to stay with the home because it matches all the other appliances or can you get another one? The list can go on and on and on, so really seek your agent’s advice and guidance.

DON’T GIVE UP. The biggest thing to remember is to not get discouraged or just say you’re done looking for a home. Sometimes the perfect one pops up right at the exact moment you needed it to. Trust in your agent and truly trust the process!

LISTEN TO YOUR AGENT. Your real estate agent is going to guide you on making an offer that’s fair market value and ensuring you ask for everything you need. But listen, listen, listen when they’re giving you the tools and ways to make your offer the most attractive it can be in a multiple offer situation. You are who they’re fighting for!

Don’t let this hot market summer get you down. Happy hunting, y’all!

Home Buyers in a Hot Market

Are you sick and tired of being sick and tired of a HOT, HOT, HOT real estate market? Real estate agents and sellers are certainly not mad at how quickly homes are moving, but being a home buyer in this situation is just a little frustrating to say the least. I say this from experience because I’m currently a home buyer that’s growing increasingly impatient in a market like this.

Homes are hitting the market and hours later they have a contract or you enter into a bidding war and while it can be exciting, not everyone wins. This is just a little frustrating and a little discouraging for some buyers. When you’re a home buyer in a hot market, it’s important to remember a couple of tips:

  • Don’t settle. Well, duh! This is an important reminder, though. When there’s only so much inventory to choose from, buyers tend to get a little too excited and settle on a property that they don’t truly love. I recommend my buyers really take a step back, look at their need/want list and ensure in their gut that this is THE HOME for them before signing their name on that dotted line.
  • Be decisive. When you’ve gotten to the point of house hunting, you should have already been pre-approved by a lender or bank and have a general idea of what you want. I think it helps to look a couple of homes to guide what you like and dislike, but when homes are moving as quickly as they are in a hot market you have to remember that time is of the essence. So basically, know what you want!
  • Do your homework. Drive by homes, know the neighborhoods you desire and know what is NON-NEGOTIABLE when buying a home. Doing drive-bys and research beyond what your agent provides you with can really eliminate a lot of running around!
  • Stay patient. Inventory may be low or you may have a very specific need when it comes to finding a home. Good things come with time and you need to keep your eyes wide open and know that something will come along, it just may not be in the next 24 hours, 2 days or even month.
  • Help your agent. I am constantly watching the market and sending my clients homes that are hand picked specifically for them with regards to school districts, bedrooms, acreage and more. When your agent is contacting you or sending you emails, let them know if they’re hitting the mark or not getting anywhere near what you’re wanting in a home. They can’t help you if you don’t help them. And that’s a fact, Jack!

As an Accredited Buyer’s Representative (ABR®), I can hone in my skills to represent the needs of my home buyers from the comprehensive knowledge I’ve received from real estate education. Each and every home buyer is different and it’s important that you as a buyer are treated that way. I want all of my buyers to know that this process is for THEM and only them because it’s their money and their home. When the housing market is hot, people tend to throw all reason out the window and it’s important to stay grounded and ensure that the home you’re buying is what you know in your gut is the right home for you and your future. After all, this is an INVESTMENT! 

Enjoy the house hunting and don’t let the stressor of a hot market get the best of you! Happy hunting!