P a t r i c k J e f f r e y R e a l t y
Buying
in a Strong Market
Finding the right home at
the right price is never easy, but in a superheated market it can be a hair-pulling
experience. While there's no magic bullet, consider these suggestions.
- Don't believe everything
you hear. All homes are not selling in one day for more than the asking price
- in any market.
- Don't get discouraged
and settle for a home that does not meet your needs.
- Tell your agent to call
you immediately if a promising listing becomes available.
- Get a mortgage pre-approval
so your offer is more attractive to the seller.
- Be realistic about what
you can reasonably hope to find in your price range.
- Be very careful about
paying wildly inflated prices - booms are inevitably followed by market contractions.
Many buyers end up with substantial losses and must wait years for appreciation
to make them whole.
A combination of determination,
patience, and perseverance is required to successfully navigate a booming market.
It is possible, however, so don't lose heart.
