My best advice for buyers today is to be patient and trust the process.
Today I am out house hunting. It’s one of my favorite parts of the business because I get to go out and have a good time with some buyers. It’s enjoyable even though it’s been relatively brutal for buyers these past 18 months. Let’s be honest; it has not been an easy market to buy a home.
At some point, the market will subside. As inventory increases and interest rates rise, some cash investors will leave the market. I think we’ll see things level off, and first-time buyers will be able to get their foot in the door.
My best advice to homebuyers is to trust that the right circumstances will come together. With the market being how it’s been, we’ve had buyers who needed to make 30 offers before one got accepted. If you keep having faith throughout the process, it will work out eventually. Hopefully, you have faith in your agent.
The right circumstance could be that your agent knows the listing agent. That’s why we agents collaborate all the time; we’ll be able to work with each other better in the future. The right circumstance could also be that a house you made an offer on previously comes back on the market.
“Trust in the process, and the right circumstances will present themselves.”
I noticed the other day that a home one of my clients tried to buy was on hold. I called the listing agent and asked about the situation. He said there was a tax issue and that they were planning to put it back on the market soon. I told him that my buyer had previously made an offer on that home and asked if there was any way we could work out a deal. We did, and my buyer ended up closing on that property.
We took advantage of that circumstance, so the best thing you can do as a buyer is be patient. Keep turning over stones, know what you want, and don’t lose your cool. Don’t offer more than you’re comfortable with, but you need to understand what you have to do to win at the same time. Trust in the process, and the right circumstances will present themselves. All you have to do is be ready.
If you have any questions about buying in this market or real estate in general, feel free to call or email me. I would love to hear from you.