Don't shop the price, shop the house.

Tip of the Day :) Don't Shop the Price, Shop the House.

Picture this. You are the home buyer in this crazy market. You’ve just found the perfect house that is at least an 8 or 9 on the scale of 1-10. You know you must go for this house. You have a price in mind that you are willing to pay for the home.?

Since no-one has a crystal ball to be able to tell what really will go on in the future, especially in this market, how many people actually will write an offer, we can only use the best possible projections, based on data and market activity.

This data comes from the economists, research companies, MLSListings, listing agents in the area, and includes recently sold pending and contingent properties (if available,) open house attendance and interest from other sources. Based on this data and inquiries, your REALTOR? should be able to share with you, where they think the market may be landing for this particular home, and what terms would make your offer most competitive.

Ultimately, it is your choice to come up with the offer price and any special terms/stipulations.?Sometimes, the home may be really unique, and coming up with comps and valuations may be a bit more challenging. Now, more than ever, you need the professional insight of your REALTOR? to get an accurate picture of the current market conditions for the neighborhood, where the home is located.

After careful consideration, if you really want the house, and you can afford to put in a strong offer, go in for the win. Remember, that getting into the market is a point on a timeline of your investment that will be in place, generally for years to come. Yes, it will fluctuate, go up and go down, and ultimately, you will have a tangible asset that certainly will have the great potential to allow you many more opportunities in the future.

For more on this topic, and other tips for buyers and sellers, tune in to Fire Chat with Mirella Podcast Chat #132. Subscribe on your favorite platform. Thanks for tuning in.

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Grateful,

Mirella