The real estate market always seems to have a little bit of spring madness here in Wisconsin. With summer temperatures finally on the rise, there doesn’t appear to be an end to the madness in sight. Current market conditions can make the home buying process seem like quite a daunting task. However, with advice from a few of our Sales Executives you will be well equipped for today’s fast paced market.
- A Good Realtor® is Key to Your Success. Scheduling an appointment with a Realtor® prior to checking out homes can be critical to your home buying success. “Meet with a Realtor® you trust to talk about dreams and goals,” say Mindy Wittig, of our Franklin Office. “A professional will be able to educate you on the steps involved during the home buying process, which is essential to setting yourself up for success in this competitive market.” Working with a Realtor® you trust will enable you to make timely decisions with confidence and will lead to less frustration.
- Timing is CRITICAL. In a market where inventory is low and properties are moving quickly, timing can be critical when it comes to purchasing the home of your dreams. Tim Vandeville Jr., from our East Troy office, advises having a Realtor® who is on top of the current inventory. “Buyers need a Realtor® who understands the demands of the market and has the ability on a moment’s notice to show their clients a new listing. Being proactive is the key to success in this market.” Often, Realtors® will know about upcoming properties before they are marketed to the public; which can help you in edging out other potential buyers.”
- Know Your Needs vs. Your Wants. It can be difficult to distinguish the differences, but keep in mind certain features of a home can be changed while others can’t. Painting a room, removing carpet, or fencing in a backyard may all be necessary to give a property the look and feel of home. Location, property taxes, and number of bedrooms & bathrooms are things you can’t change about a home and should considered first in your home buying journey. Creating a list that details your needs versus wants PRIOR to beginning your home search will be invaluable, allowing you to focus on the properties with the greatest potential for you.
- Financing is Important. Nothing can throw a curve ball at a transaction quite like financing issues. Consulting a lender before you begin your home search is super important. A trusted advisor will be able to get the pre-approval process started, which is a key first step before looking at homes. “Yes, you must have your financing with a local and recognized lender in line and ready to go. You will most likely be competing with other buyers and this important first step can put you at the front of the pack,” advises Pat Wunderlichof our Brookfield Office. Offers with good financing are considered much stronger and sellers tend to place an importance on this when deliberating on multiple offers.
- Be Prepared with Your Best Offer. In markets of the past, buyers used to have much more room to negotiate the price of a home. Currently, more properties are seeing multiple offers with a shorter number of days on market. According to the Metro MLS, the average days on market for May 2017 for all homes is down 16.2% from May 2016 with the median sales price of previously owned homes up by 4.1%. To come prepared with your best offer right away, will help you to show the sellers you are serious. Your Realtor® can also advise you on other ways to differentiate your offer to make your next transaction a successful one.
For over 25 years, our Sales Executives have served Southeastern Wisconsin with expertise. We realize there are many decisions to make during the home buying process. Closing on average 47% more transaction sides than the industry standard, our Sales Executives have a unique set of skills to ensure a successful transaction. At Realty Executives Integrity, our goal is to provide you with the knowledge to make those decisions easier and allow you to focus on making your dreams a reality. As trusted advocates with a global network behind you, we are committed to making your real estate experience second to none.
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