Great Story In Today's Paper

Since not everybody has a subscription to the Tampa Bay Times newspaper, I am going to summarize a really informative story that appeared in today's paper.

The headline is "Buyers' Market?  Not So Fast".  The story describes how the real estate market has heated up in recent months but how many home shoppers still seem to think that it is a strong buyer's market and they want to find "bargains".

The article stresses that there just aren't a whole lot of "steals" in the market anymore.  The article then goes on to give buyers (and sellers too for that matter) five key tips on how to operate in today's real estate world. In summary, here are the five tips:

1. Drop That Lowball Mentality.  Buyers can't get away with those ultra-low offers in today's real estate market.  Most sellers will negotiate, but they are not desperate like they were a few years ago.  Today, getting a house for 90% of a fair asking price is about as "lowball" as buyers are likely to get.
2. Forget Sleeping On Your Decision.  If you see what you want, make an offer fast.  No mulling it over all night.  No having mom and dad come see the house next weekend.  With so few homes on the market today, buyers need to act fast.
3. Make A Personal Impression On The Seller.  With some homes getting two or more offers in a short time frame, the buyer's offer needs to stand apart from the others.  It's not just money, sometimes it's terms, or closing date, or escrow amount.  Sometimes, it's who-does-the-seller-like-best.
4. Get Pre-Approved For A Mortgage.  Let's face it, mortgages are hard to get today due to much tighter lending requirements.  Buyers need to be pre-approved and submit proof of that approval with their offer.
5. Submit A Clean Offer.  Buyers should not load-up their offer with all kinds of contingencies.  Offers need to be clean and simple.  The cleaner the contract, the more likely it will be accepted. 

This is good advice for all home buyers in today's real estate market. 

Happy Selling!

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