Buyer Tips April 20, 2022

Written 10yrs ago, But Even More Relevant NOW!

Reality Check for Buyers

Here in the Seattle market, things are starting to heat up and it’s time for a reality check for buyers!!

Recently, I’ve been working with a buyer who lost her first pick to a multiple offer situation.  And 3 subsequent properties she wanted to submit an offer on have been multiple offer situations as well.  As a result, she declined to submit an offer!

So, I’m afraid, it’s a sign of the times here in the Pacific Northwest.  I have heard from several colleagues, that they too are running into multiple offer situations.  Why?  Because our inventory is shrinking!

The best advice I can off to you if you are a buyer…..GET OFF THE FENCE!  Really, there is no better time like right now to purchase a home.  And interest rates are still good.  With shrinking inventory, prices are likely to increase, and the home you qualify for now, you may not qualify for with higher interest rates and multiple offers.

And the only way to find out if you qualify for a mortgage is to call a lender.  I work with a handful of mortgage professionals who will get you preapproved.  That way we can position you as a strong buyer who has done their legwork and are serious.  After you’ve met with a lender, contact me and we will begin looking at homes you may be interested in.  See my resources link for contact information for my preferred lenders.