Jim Valentine: When will I find the property I want?
So you are ready to buy your home and the inventory isn’t being kind to you. What do you do? It may seem like you’ve been looking forever, but how long has it really been? How long have you been waiting to buy a home … years? Be patient, the right home will be there when the time is right.
This is an interesting time of year given the frequency of holidays and their impact on the market. Some sellers wait until after the holiday season to come on the market while others recognize that many potential buyers will be in the area visiting family and friends over the next month and will want to look at homes. Selling a home is much like fishing, you can’t catch a fish if your hook is in the boat. You need to be on the market to be noticed by buyers.
Residential real estate sells year ‘round in Northern Nevada. While there may be more showings in the summer season, the quality of buyer/showing ratio in the winter time is higher. People looking at property in the snow are serious and should be regarded as such. You home will never look finer than it will when it is decorated for the Christmas season. If you are thinking of selling, don’t wait, get it on the market for the holiday buyers.
If you are getting frustrated with your search it is important that you be patient. Don’t compromise your wants and needs because you are getting impatient. The right property might be being listed as you read this, one never knows. The one thing we do know is that the market is ever changing. New properties come on the market, prices adjust, escrows fall out and properties are available again daily. You just need to be diligent and keep up the effort. If you are getting tired, think of your efforts like a football game and you are in the fourth quarter. You are tired but victory is within your grasp. Would you quit and take a participant medal, or do you want the championship hardware, the right home for you and your family?
Stay in touch with your agent. Make sure your agent is looking multiple times a day for property for you. A good hard working agent will be looking throughout the day for you so when the right property becomes available you are notified and are able to act in a timely manner. Make sure your agent agrees that your wants and needs are realistically going to be available in your price point when the right property avails itself. If you are unrealistic in your expectations then the market may never provide you an opportunity to buy. If you are told that you should be able to achieve your objective then it is a matter of time before the right seller decides that it is time to sell and they put their home on the market.
When you find the right home, don’t dally. If you’ve been putting forth a good buying effort then you should know the market. You will know in your heart and mind when the right property presents itself. Be ready to act. It is then time to make an offer, not ponder. Remember, if you like it others will as well. Though the market is softening a bit, if you find the right home you will have competition. Don’t get auction fever, but make sure you get your “hat in the ring” and let them know you are a player.
Our advice: Buying a home in today’s market takes work by both the agent and the buyer. You must be looking at a good source of information about homes for sale, i.e.- the Multiple Listing Service, and you must be ready to go look quickly, then write and submit an offer. It takes time and effort, but when you consider that you will be in the home anywhere from five to 25 years it is worth the time and effort — and patience — that you expend. Deep breath. Pause. Smile. It will be OK.
Buying a home isn’t like buying the wrong dress and returning it or just not wearing it, you have a lot invested. Buy right the first time. When it comes to choosing professionals to assist you with your real estate needs … Experience is Priceless!