Charlotte Housing Market Heats Up for Home Buyers
First time and repeat home buyers alike in Charlotte NC are finding it more and more difficult to find their dream home due to the diminishing supply. Home buyers are also now faced with a larger buyer pool and believe me, the competition is FIERCE! How do you present the winning bid in a multiple Offer situation? How do you know ‘when’ the right time is to place an Offer on a home? What do you need to do to prepare for your new home purchase?
“First-time home buyers once had a huge inventory of homes to choose from, but now they’re finding tightened supplies and steeper competition for what’s left.”
We’ve put together a great series of articles for Charlotte home buyers – tips on buying a home in 10 steps. Take a look at these articles and when you’re ready to buy, give us a call. We’d love to help you find that perfect home.
Step 1: Develop a plan
Step 2: Select a Realtor®
Step 3: Get that loan pre-approval
Step 4: Let’s go shopping!
Step 5: Making an Offer
Step 6: Finalizing your financing
Step 7: Let’s talk inspections!
Step 8: The devil is in the details
Step 9: The walk-through
Step 10: Time to nest!
As a tip for home buyers in this low-inventory market, I HIGHLY recommend speaking with a lender and working through the pre-approval process BEFORE you look at homes! This is one of the most important steps in winning in a multiple-Offer situation as well as avoiding a multiple Offer scenario–buyers have lost homes while waiting on the pre-approval process because they didn’t have a pre-approval in-hand to submit with their Offer.
“First-timers also need to be able to act fast and be able to have their financing processed quickly if they are going to stay competitive. Some banks won’t sign off on mortgages for eight to 12 weeks. But some sellers won’t wait that long.”
If you need a list of reputable lenders who have completed many successful transactions with our valued clients, email us at SavvyBroker@me.com and we’ll be happy to send you a li
I’m seeing this repeatedly as well–buyers losing to multiple Offer situations–both first time buyers and experienced home buyers. I believe the shocking part for buyers now is not only the limited inventory but, the sheer competition in the buyer pool. If you see it, you like it, you’d best get your Offer in FAST!