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How to Buy in a Tight Market

                                                                                                                                                                                                              

Increase your chances of getting your dream house in a competitive housing market.

Get prequalified for a mortgage.
You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.

Stay in close contact with your real estate agent.
Your agent will be on the lookout for the newest listings that meet your criteria. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.

Scout out new listings yourself.
Browse sources such as realtor.com and local real estate listing sites. Set up alerts for the neighborhoods and characteristics you’re looking for. Drive through your target neighborhoods, and if you see a home you like for-sale, send the address and listing agent’s name to your agent, who can schedule a showing for you.

Be ready to make a decision.
Spend plenty of time in advance deciding what you can afford and must have in a home so you won’t hesitate when you have the chance to make an offer.

Bid competitively.
Your first inclination may be to start out offering something less than the absolute highest price you can afford, but if you go too low in a tight market, you will likely lose out.

Keep contingencies to a minimum.
Restrictions such as needing to sell your home before you move can make your offer unappealing. Remember that, if the market is tight, you’ll probably be able to sell your house rapidly. You can also talk to your lender about getting a bridge loan to cover both mortgages for a short period.

But don’t get caught in a buying frenzy.
Just because there’s competition for a home doesn’t mean you should buy it. And even though you want to make your offer attractive, don’t neglect inspections that help ensure the house is a sound investment.

Have additional Questions? We’re happy to help! Contact us at (509)200-2215

Jenna & Phillip Provost, Realtors®

The Provost Team

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Coldwell Banker Walla Walla

Each Office Independently Owned and Operated

Source: Realtor® Magazine | National Association of Realtors®

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Jenna Provost

Originally from Titusville, Florida, Jenna has called Walla Walla home for over a decade. Her love for this town came after her first year experiencing all four seasons. After attending Walla Walla High School and Seattle College, she held various positions in various fields; including healthcare and banking. Jenna spent three years in home lending, guiding home buyers on their financing journey before joining her husband as The Provost Team. Jenna now serves as Public Relations for the Walla Walla Associations of Realtors and is the chair for the association’s social committee. She specializes in first time home buyers and is also very experienced in online marketing. Jenna understands the delicate nuances of selling luxury properties and is well-equipped to handle both buyers and sellers looking to purchase or sell in the Walla Walla area. Jenna resides in Eastgate Walla Walla, with her family and three dogs. Sherman & Doug, pugs and Theodore, a French bulldog. They enjoy boating by summer and riding ATVs in the Blues in the winter months. Jenna serves on multiple committees outside of the Association of Realtors, and often with volunteers to help with anything to do with raising money for BMAC.

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