How To Get a Good Deal in Today’s Housing Market

In today’s competitive real estate market, finding a good deal on a house can feel like searching for a needle in a haystack. With properties flying off the shelves and bidding wars becoming the norm, prospective buyers may feel disheartened about their chances of securing their dream home at a reasonable price. However, with the right strategies and mindset, it’s still possible to snag a great deal in today’s market.

Here are some proven tactics to help you navigate the current real estate landscape and land a home that meets both your needs and your budget:

1. Explore Homes That Have Been on the Market for a While: While newly listed homes often receive a lot of attention, don’t overlook properties that have been sitting on the market for an extended period. These homes may be overlooked gems, and sellers could be more willing to negotiate on price to attract a buyer.

2. Utilize Off-Market Opportunities: Work closely with your real estate agent to uncover off-market opportunities and properties that aren’t publicly listed. These properties may offer less competition and greater negotiating power for buyers.

3. Keep an Eye on Contracts That Fall Through: When a home sale falls through, it can present an opportunity for savvy buyers. Be ready to act quickly when these situations arise.

4. Consider Waiving Certain Contingencies: Instead of solely relying on offering a higher price, consider waiving certain contingencies, such as inspection or appraisal contingencies, to make your offer more attractive to sellers. However, proceed with caution and ensure you’re comfortable with the level of risk involved.

5. Reframe Your Definition of a “Good Deal”: In today’s market, it’s essential to rethink what constitutes a good deal. While paying at or slightly above asking price may be the new norm, remember that real estate is a long-term investment. Think about the potential equity your home could accumulate over the next several years and focus on making a sound investment rather than solely chasing a bargain price.

We live in an area that is constantly appreciating and that appreciation will not stop. There are VERY few “good deals” out there right now – where buyers aren’t paying at or over asking price. Reframe what a “good deal” is in your mind – maybe it’s making a solid investment instead of paying a low ball price for a home!

Let’s talk!
Elisabeth Yeager Homes and Farms Group of VYBE Realty
C: 443-508-3280 | O: 410-220-4648
[email protected]