With a low inventory of homes for sale and rising home prices, sorry buyers, but it is a seller’s market. The absorption rate for Brown County, WI is a 4. This means if no new homes come on the market, it will take 4 months for all the current homes to be sold. And, this also means, it is a seller’s market. As a general rule:
1-4 months – seller’s market
5-7 months – balanced
8-12 months – buyer’s market
So how can you stay ahead of it all? Follow these easy steps and you’ll be happy you did when you’re moving into your dream home.
Get Pre-Approved for a Home Loan
Yes, this is important. Want to show a seller you’re serious about your offer? One the the easiest things to do is wave your pre-approval letter with pride along with your fabulous Offer to Purchase. This shows the seller that you can afford the home and that you’ve done your due diligence. If you’re not working with a lender or banker, ask your buyer’s agent. They should know a few good ones!
Find a Qualified Buyer’s Agent
I can’t stress this enough, this is so necessary! If you don’t have a Realtor working FOR YOU, you need to find one. That random agent who is working for the seller, has their eyes on the prize – to get that particular home sold, they are NOT looking out for your best interests. And, every agent is working for the seller, until you sign that Buyer’s Agency Agreement. You’ll need a Realtor who will get creative in finding your dream home if none are active on the market. You’ll need a Realtor who will negotiate, and navigate you through the Offer to Purchase correctly. You’ll need a Realtor who will alert you quickly of new properties coming on the market. Need more incentive to get a buyers agent? Easy, click here.
Preparation is Key
For the most part, be prepared. Talk to your buyer’s agent about the home buying process early in your home search. This way, when it’s time to put in an offer, you won’t feel so overwhelmed. Think about it, if you are familiar with what happens next, it doesn’t seem so scary. And in a housing market where time is of the essence, you need to move quick. You won’t be able to do that if you’re clueless about the whole process.
Home buyers in the Green Bay and De Pere or surrounding areas, I’d love to be your buyer’s agent! Think you’re too far out of my servicing area? Contact me anyway, if I can help you, I will find another awesome buyers agent who can!