Navigating the Southern New England real estate market as a home buyer is challenging enough without trying to purchase a property on your own. With high demand and low inventory, the Southern New England real estate market is competitive at best.
As a potential home buyer in Rhode Island, Massachusetts or Connecticut, our goal is to make sure your home goals are supported and that your wants/needs in a new property are met successfully. For easy home buyer reference, we’ve collected the most beneficial home buyer tips for navigating a hot real estate market.
Home Buyer Top Tips in a Seller’s Market
- Partner with a Good Realtor.
There are many things we can solve with D.I.Y., real estate is not one of them. This is especially true in a strong seller’s market when you are trying to purchase a home. Low inventory and high demand means you need a savvy, strong brokerage on your side.
- Get pre-approved for a home loan mortgage.
Get pre-approved for a mortgage before your start your home search. This is a critical move, especially in a seller’s market. Getting pre-approved before shopping for your new home puts you in a strong position as a buyer, showing sellers you can make an offer on the home you want right away.
Additionally, working with a reputable mortgage company can give you an advantage if sellers are considering multiple offers. The more financially solid the offer, the more likely your offer will be selected.
- Be ready to be flexible in your wants & needs.
In a real estate market like we are seeing in Southern New England, homes are listed for sale and are sold within days. Homes are backordered across the region. Keeping this in mind, when a home buyer sees a home they want, making an offer fast is your best hope of securing your new home.
In a hot seller’s market, potential home buyers should be ready to be as flexible and accommodating to the seller a possible, within reason of course. If you can provide the seller with some flexibility and accommodate the time they need to pack up and move out, this could help make your offer stand out and show the seller why they should accept your offer instead of any other offers.
- Set realistic expectations.
With low inventory and high real estate demand, home buyer negotiations are slim at best. In fact, it is reasonable for home buyers to expect to begin their offers at the full asking price, if not higher, if your goal is to get the home under contract.
- Listen to and consider the advice of the great realtor you hired.
Noonan Lombardi Realtors offers clients over 50 years of collective real estate experience. Lending their wealth of real estate knowledge and experience to clients has led the Noonan Lombardi Realtors team to be one of the top performing brokerages in Southern New England. Allowing real estate professionals, such as Noonan Lombardi Realtors, to guide your real estate search could mean the difference between getting the home you want and missing the bar.
Noonan Lombardi Realtor professionals have the experience and savvy to give you good advice, help you avoid mistakes and make the home buying process smoother. While you have the final say when it comes to the terms and conditions you want to attach to an offer, you are working with seasoned professionals because they have the experience to help you.
- Do not waste time. Be prepared to move.
Keeping in mind that most properties across Southern New England are on the market in active status for days, not weeks and months, you really need to be prepared to see homes as soon as they list, or risk losing out. In this market, if you find a property that interests you online, have your agent call for a showing asap. The sooner you view the property, the sooner you can make an offer if you choose to do so, which means you have a better chance of getting an offer in before other buyers.
Meet Noonan Lombardi Realtors
Noonan Lombardi Realtors operates one of the most successful real estate brokerage teams for home sales, property management and rentals in Rhode Island, Connecticut, and Massachusetts. This teams advertising and social media presence are second to none, giving each client the backing of exceptionally experienced realtors waiting accomplish all client’s real estate needs. Using top-of-line technology and resources to make property dreams come true, Noonan Lombardi Realtors strive to meet all client real estate goals daily.
A great and successful real estate search starts with options! At NoonanLombardiRealtors.com your real estate search can include all Rhode Island, Massachusetts, and Connecticut live MLS real estate listings. As one of the rare few brokerage groups across the country to invest in adding the MLS search their own website for the convenience of all potential clients, Noonan Lombardi Realtors is working to save each client precious time. Explore what Noonan Lombardi Realtors can do for your real estate experience today (401) 580-8672.