It’s always best for real estate professionals to advise their clients on the best ways to maximize their negotiating power. After all, in today’s environment, many people are still pursuing home purchases, to the extent that bidding wars could still be quite common this fall despite the usual seasonal slowdown in real estate sales activity.
Real estate pros should always advise their clients on the current status of the market and when is the right time to buy based on their unique needs, according to Inlanta Mortgage. After all, not everyone who wants to buy is actually financially prepared to do so, so ensuring would-be shoppers have a firm understanding of what it will actually take to make a purchase in this hyper-competitive market is critical. For instance, if people have low credit scores or aren’t able to make a sizable down payment, it may be harder to get pre-approval on a mortgage, which can put them behind the eight ball when it comes to bidding on a property.
There are often cases where would-be buyers are all too eager to make a home purchase without actually considering the conditions in their local markets and are willing to make too many compromises on what they’re looking for just in hopes of buying sooner than later. There isn’t necessarily anything wrong with that approach, but it’s important for people to think about whether the homes they buy today fit into their long-term plans.
Buyers are encouraged to seek advice from their agents about the ways in which the local market has shifted and is trending, which can then inform decisions about where and when to buy, and for how long they should plan to own before they think about moving again (if at all).
Strike when it’s wise
Shoppers should keep in mind why autumn is such a buyer-friendly season in the first place, according to Zillow. While competition should still be considerable because of existing market conditions, it will probably still be more favorable than just a few months ago. For one thing, sellers who have had their homes on the market since the start of spring may be more motivated to make a deal than they were in the summer (as a means of finally getting the property sold or to get the tax implications sorted out before the end of the year).
In addition, properties may become a little less attractive to buyers in general because the thinning light experienced in the later autumn and the autumnal sight of trees shedding their leaves make properties less traditionally attractive, especially if homeowners aren’t attentive about upkeep even as they’re trying to sell.
As with anything else in the real estate sales realm, shoppers should work in close concert with their agents to find the properties and deals that are going to work best for their financial needs and the preferences they bring into the buying process.
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