July 29, 2022
Buying a House During a Pandemic
It's no secret that the Corona Virus has impacted the U.S. economy and respectfully, the housing market.
However, in many parts of the United States, the housing market has remained surprisingly strong.
If you're thinking about buying a house in the near future, you can expect a few things to be quite different.
During the Covid-19 pandemic these are the most common things that happen when you're purchasing a home.
The Market is Moving Much Faster
Many listings that are market ready and priced correctly are sold within a week or so on the market.
This means that buyers can’t afford to waste time if they are serious about buying.
If you as a buyer see a home you like, don't hesitate! Tour the listing as soon as you can and make sure you're prepared to make an offer immediately.
You'll Face Competition
It is overwhelmingly common for sellers to receive multiple offers.
The longer inventory remains low, the more likely for buyers to face competition while buying a house.
When a multiple offer situation arises, the listing agent will most likely instruct each prospective buyer to present their "highest and best" offer.
For very attractive listings, offers can come in miles above the asking price.
Keep in mind, you will need some extra wiggle room when buying a house in this environment, so refrain from looking at homes at the top of your price range.
A good rule of thumb is to look at homes at 10% less than your ideal budget. This will give you room to compete if necessary.
Follow CDC Guidelines
Because of CDC requirements, home showings are vastly different.
Use technology to your advantage and ask for your agent to conduct a virtual tour.
If you prefer to personally visit the home, wear a mask to keep you safe.
Most real estate agents use an e-sign platform so buyers and sellers can sign their paperwork digitally.
Social distancing requirements may also impact how you interact with appraisers, home inspectors, attorneys, and others parties that are involved in your home purchase.
Buying a House with a Mortgage Contingency is Common
However, it would be easier to bid against other competing l buyers if the weight of your existing home mortgage wasn't an issue.
Selling your current home and moving into an apartment or rental home while you focus on buying a house is an option many people take.
You may also consider selling your current home with a contingency to find your new home first.
July 20, 2022
What is Due Diligence in North Carolina?
The purpose of the due diligence fee and date is loosely defined as a block of time purchased by the buyer.
December 30, 2021
5 Ways to Make Your Home Offer Stand Out
Being realistic and aggressive will get you the house that most likely took some time to find. If you like the house enough to write an offer, don’t hold back any punches. As long as housing demand trumps housing supply, houses won’t lose value.
December 27, 2021
How To Find A Custom Home Builder Near Me
What usually sets one builder apart from another is the floor plan. Pay attention to the flow of the floorplan.
December 23, 2021
Pros & Cons of Buying a Luxury Home
Consult with a professional who knows how to sell luxury real estate to determine if buying a luxury home is the right decision for your family and lifestyle.
December 23, 2021
Avoid These 5 Mistakes When Buying Luxury Homes
Owning a luxury home is definitely obtainable, but being aware of the pitfalls is paramount. Avoid these mistakes by hiring a skilled and experienced luxury real estate agent.
December 20, 2021
5 Times When It's Okay To Offer Above List Price
There are several loopholes and angles that could be exercised with using the right agent in situations like these.
December 8, 2021
How Work from Home has Changed Homebuyer Needs
Some buyers may find it beneficial to move to parts of the country where the cost of living is much lower than the are in which their employment lies.
November 30, 2021
The New Normal: Houses Available to Buy Reach All Time Lows
Housing inventory has fallen to all-time lows in the United States. The Triangle is not exempt from these effects, let's dive into the reasons why real estate prices are being driven up due to low availability.
November 26, 2021
First-Time Buyer? 10 Things Nobody Tells You
Learn as much as you can about the process before interviewing agents to help you.
October 13, 2021
Understand Due Diligence and Home Inspections
It is up to the skills of both buying agent and listing agent to properly inform their clients so that realistic measures are taken and all of the necessary options are explored objectively.
September 15, 2021
First-Time Home Buyer? Mistakes to Avoid
Be careful, do your homework and surround yourself with individuals who have your best interests at heart. If you follow these steps carefully and correctly, your first home purchase won’t be your last.
June 20, 2021
Are Land Values Increasing In The Triangle?
Developers are rushing in to build in areas like Clayton, Garner, Knightdale, Creedmoor, Wendell, Louisburg, Pittsboro, New Hill, among others.
Speak to an actual person.
If you have any questions regarding real estate transactions, drop us a line.