So, remember those crazy days in the housing market when it seemed like every house was a unicorn? Well, those days are over, but that doesn't mean buying a home is a breeze. The market is still pretty competitive in a lot of areas because there aren't many homes for sale. So, if you're thinking about buying a house this season, don't expect the same frenzy of bidding wars as before, but you still might have to deal with a few multiple-offer situations. Just a heads up!

You're ready to make an offer on a home? That's great! Let's talk about some important things to keep in mind to help you make a strong and impressive offer.

1. Lean on a Real Estate Professional

If you're looking to navigate the housing market smoothly, it's crucial to have a reliable agent by your side. Why? Well, these agents are true experts in both the local market and the national trends. They've got the knowledge to support your goals and keep you updated on what's happening right now. With their expertise, you'll gain all the necessary information to make informed decisions and move forward with confidence.

When you work with a real estate agent, they have insider knowledge about what strategies have been successful for buyers in your neighborhood. They also have insights into what sellers are looking for in an offer. It may sound basic, but tailoring your offer to meet a seller's needs can really make it stand out from the competition.

“Getting to know a local realtor where you’re hoping to buy can also potentially give you a crucial edge in a tight housing market.”
— Forbes

2. Get Pre-Approved for a Home Loan

With everything going on these days and considering the affordability challenges, it's crucial to have a solid budget in mind. To really understand how much you can borrow, the best thing to do is team up with a lender and get pre-approved for a home loan. This way, you'll have a clear picture of your options and can make more informed decisions. Trust me, it's the smart way to go!

You'll feel more financially confident when you really grasp your numbers. It also proves to sellers that you're committed, which can give you an advantage in a multiple-offer situation.

3. Make a Fair Offer

It's totally understandable to want the best possible deal on a home. But, if you submit an offer that's too low, there are some risks involved. You definitely don't want to make an offer that will simply be thrown out the moment it's received, just to test the waters.

“. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent, can do.”
— Realtor.com

Having an experienced agent on your side during this stage will give you an edge and ensure that you can negotiate a price that works well for both you and the seller.

4. Trust Your Agent’s Expertise Throughout Negotiations

So back in those "unicorn" years of housing, there were some buyers who would skip getting home inspections or negotiating with the seller for concessions just to secure the winning bid on a home. But according to an article from Bankrate, that's not happening quite as much these days, and that's actually a good thing!

“While the market has largely calmed down since then, sellers are still very much in the driver’s seat in this era of scarce housing inventory. It’s not as common for buyers to waive inspections anymore, but it does still happen. . . . It’s in the buyer’s best interest to have a home inspected . . . Inspections alert you to existing or potential problems with the home, giving you not just an early heads up but also a useful negotiating tactic.”
— Bankrate

Good news! In today's market, things have changed, and you might have more bargaining power than before. When you're ready to make an offer, your trusted real estate advisor will be there to guide you. They'll help you figure out which aspects to focus on and which ones you shouldn't give up easily.

Bottom Line

If you're planning on buying a home this summer, why not reach out to me? I can be your go-to expert, helping you make the best offer possible. Let's connect and make sure you're covered!