The market for Vail Valley homes is competitive right now. The good news is that the reason homes are in such high demand is because it is still a good time to buy one. While the market is heating up, interest rates are still at historic lows but projected to keep rising. Good deals are still available, but they don’t last long and usually come with competition.
Here are five steps you can take to give yourself the edge in today’s competitive market:
Make a Plan: There is more to the home-buying process than conducting online searches or flipping through the Vail Daily – by the time you are prepared to make an offer, the home you were hoping to buy may be under contract. To get an offer together in a timely manner, you’ll need to be ready. Contact us today for a no-risk, no-cost consultation on how to be ready to place your offer quickly.
Get Pre-Approved by a Lender: This is the easiest and best way to show the seller your offer is serious and that you are in a position to buy the home. In a multiple-offer situation, buyers who are not pre-approved are usually the first ones rejected by sellers.
Work with a Good Agent: Look for an agent with a full time career in real estate, a record of success and many satisfied clients. Your agent should be proactively networking to find properties about to go on the market and useful information about homes already for sale. When the time comes for the seller to choose between offers, some last-minute negotiation by your agent could make the difference and win you the contract.
Build a Real-Time Search: One thing your agent should be able to do for you is create a real-time MLS property search that will alert both of you as soon as a suitable property hits the market.
Do Not Lowball the Seller: Building “room to negotiate” into your offer might be an o.k. plan in some markets, but that market is not this market. You don’t want to spend outside your means, but you also don’t want to lose out just for being too clever. Your agent can help you prepare a strong, clean offer that is fair without going overboard.
Are you hoping to buy a Vail Valley home? Contact the Rocky Mountain Home Team today to get started!