Navigating a tight housing market with little inventory to house hunt can seem delicate. Buying a home, whether it’s your first, second, or third time around, doesn’t have to be difficult to deal with if inventory is tight if you know these tips from Trulia!
Make a good offer – “Offering a higher price can be tricky when you’re buying a home. You’ll need to make sure you can afford – and get – a bigger mortgage,” writes Laura Agadoni.
Be patient – New listings may pop up at any time, and you should probably be prepared to make an offer; which translates to knowing exactly what you’re looking for in a home.
Flexibility – When it comes to closing, that is. There are some things you should have an iron clad opinion on, but be prepared to close quickly in a competitive market, advises Trulia.
The offer letter – Sellers who deeply love their neighborhoods and homes will appreciate this touch and will enjoy seeing their home go to someone they can make a connection to. Agadoni says it can sometimes give that competitive edge needed to write to the sellers about why you love the house and neighborhood.
For more on how to deal with low inventory markets, check out Trulia’s blog here. [INSERT LINK]
Source: https://www.trulia.com/blog/low-housing-inventory-real-estate-markets/