I cannot stress enough what a hot market we’re in. I sold 8 homes in the month of March…most within a matter of days, only one lasted as a live listing more than a week.
This stunning new BDR Home on Capitol Hill only lasted mere hours.
My advise to you if you are in the market for a new home is to be prepared and act quickly. Here are some things you must do before you embark on your search:
- Find out what you can afford. Here’s an online calculator that can help you determine your maximum based on your income and expenses.
- Know what you want. Know what neighborhoods and home features are most important to you. Make a priority list, identifying the things you have to have vs. what you’d be willing to give up.
- Be pre-approved. It’s not enough to just be pre-qualified anymore. There’s a difference. Take the extra step to get a pre-approval from your mortgage lender.
- Get there first. When you hear of a just-listed home, be prepared to be one of the first in the door. Waiting for the perfect moment can cost you.
- Think through your offer ahead of time. Will your offer include an escalation clause? If so, how much? What contingencies are you willing to waive? How much earnest money will you put down? When do you need to close? Can you be flexible with the dates? Everything, including writing a plea to the sellers ahead of time, could help you get your offer in faster.
Homes, especially in sought after neighborhoods, are flying off the market. The time you spend before you start your search will give you an edge.
IN THE MARKET FOR A HOME?
I’m your “go to” real estate broker for all new homes coming on the market in Capital Hill, Queen Anne, Wallingford, Fremont, & Ballard. Don’t miss my 11 unit townhome site coming up very soon on Queen Anne. Please reach out if you’re in the market or thinking about making a move. I would love to help! Contact me at 206-234-4897 or firstname.lastname@example.org.