Friday, April 22, 2016 / by Tom Nickley
April 1st marked the start of the official home buying and selling season here in Orlando. Right now, many buyers are finding an extremely competitive market due to a lack of inventory. In fact, Orlando has seen inventory steadily decline for eight consecutive months, causing a lot of headaches for unprepared buyers. So, what can you do to succeed in this tough market?
1. Work with a strong local lender. This is not only very important, it’s the difference between getting and not getting a home. The lenders we work with are taking our clients all the way through the underwriting process, which means that once the buyer finds a property, they are strides ahead of the competition. A strong lender will call the listing agent and go to bat for you, which is a huge advantage to have in a multiple offer situation.
2. Work with an experienced agent. The market is incredibly competitive for buyers, so having a buyer’s agent who is active, aggressive, and knows how to find great homes as soon as they hit the market will go a long way toward making the buying process a success.
3. Be willing to move fast. The best homes are receiving multiple offers in as few as 24 hours. Have an agent that has the technology to notify you the moment homes come on the market and get you out there before anyone else. This allows you to get a leg up on the competition and make a move on your dream home before anyone else has the chance. We always tell our clients that if they’re willing to sleep on it, they’re probably never going to sleep in it - so it’s imperative to move fast!
If you’re thinking about buying a home, or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!