In the summertime, the housing market really heats up. This is the time of year when people like to sell a home. The weather is great, you can really look at the house inside and out, and its during break-time for anyone with kids. Here are three steps you can take to position yourself to get the home you want in a fast market.
#1 Get Pre-Approved
In a fast market, no seller is going to want to wait for you to get approved for a loan when they have multiple other offers on the table already. If you want to be able to move fast, and you are not purchasing a home with cash, you need to make sure that you get pre-approved for a loan through a bank before you start your home search process.
Keep in mind that you are not going to be able to get preapproved overnight; this process can take a few weeks as you gather and provide the bank with all of your financial information. If you know that you are serious about purchasing a home, it is time to move forward with the pre-approval process for a loan.
#2 Hire A Real Estate Agent
Although you can now do a lot of looking and information gathering about potential homes for sale online, you still need a real estate agent. A real estate agent will get you access and tours of the homes that you are interested in putting an offer on. They will be able to review and push your offer through, and fight for your interest in purchasing the home. You need a real estate agent who is able to move fast and help you get in offers quickly when the homes you are interested in are only spending days on the market.
#3 Tune In To The Local Market
If you are serious about getting a new home, and you know the market is moving fast, make sure that you are tuned-in to the local market. Sign up for as many real estate websites as possible and set-up your account so that alerts are sent to your phone or email every time a new property is listed.
If you work, use your break and lunchtime to review all new listings, and immediately let your agent know which ones you want to check out in person. Keep a clear evening schedule so you can view the properties you are interested in. If you want to be able to get a home in a fast moving market, you need to set up your phone and your schedule so that looking at new listings and viewing them is at the top of your priority list every day.