Looking to unlock the secrets to finding luck in today’s real estate market? Find tips for home buyers and advice for selling a home here. There’s been talk about the market slowing because it has. Talk about inventory growing because it is. However, it is important to note we aren’t quite in a market where a buyer is picking their neighborhood.
In Austin, for example, there is enough inventory to hone in on an area or zip code, but not quite at a neighborhood level yet. There just aren’t that many choices. If you don’t care about the number of bedrooms or square footage a large community like Anderson Mill or Circle C Ranch might have more than 5 active homes for sale, but most people have some criteria, and any will limit the selection.
Finding your luck in the market
So how lucky do you need to be in this market? When looking for a house or selling one, luck may seem like a factor that is outside of your control. However, there are some steps you can take to increase your chances of finding the right house as a buyer or the right buyer as a seller.
Tips for Home Buyers:
- Start with a clear idea of what you want and where.
- Get pre-approved. Your dream home often pops up in other buyers’ dreams too. When you come across your dream home, it’s natural to want to take action right away. However, before you jump in, it’s essential to know your numbers. This means understanding your budget, financing options, and other costs associated with purchasing a home. By having a clear understanding of your financial situation, you’ll be able to make an informed decision and avoid any surprises down the road.
- Start with a couple of must-haves and see how many results they render.
- Get set up on a custom ASAP search. After exhausting the existing inventory, level up and get notified immediately whenever a new home that meets your criteria hits the market. If it’s a head-turner, you don’t want to be late to the party.
Advice for Selling a Home:
- Set the right price and adjust accordingly. There have been plenty of terms thrown around in the last few months like ‘shifting’, ‘pivoting’, and ‘turning’ because the market is doing all of those things. I’ve got maybe 45 days at best of what I would consider current data. Unless the house has a viable reason to stick out from the pack – it shouldn’t. It’s just going to make the house sit on the market longer and sell for less than it would have.
- Make repairs. Buyers do not have extra money to fix deferred maintenance. Make it easy for them to say yes and repair what is broken.
- Market your home effectively. Off-market listings are very limited right now. There aren’t enough buyers digging through a haystack to ultimately discover an off-market listing. Market to the masses. Finding a buyer is a bit of a numbers game.
Luck may seem like a factor that is outside of your control. Sometimes you have to make a bit of your own.