It’s Hard If It Isn’t For Sale!

If you’ve been searching for a home for a while, you’re probably well aware of this stat. Many buyers are getting frustrated and discouraged because there aren’t enough homes on the market. This is especially true with certain price ranges. And, when you do find something that you want, it seems like a war takes place between multiple offers, causing you to normally lose to another buyer.

Some buyers have decided to wait until the market changes. But, that can potentially be a very long wait not to mention a quite costly decision.

Inflation is affecting all sectors of the economy; prices on food, cars, and electronics are going up as well as housing and mortgage rates.  Home prices rose 20.2% year over year in May 2022 over 2021, according to a recently released CoreLogic report.

One advantage for current homeowners – their home is now worth more which takes the sting out of the price tag on a larger home.

However, if you’re a first-time home buyer, you are seeing those prices continue to rise at a rate that many Americans have never seen before.  Waiting is most probably going to make it less affordable.

It is very true that the housing inventory is at very low levels, but did you know that over six million homes sold last year throughout the US? There was enough of an inventory for six million buyers throughout all of 2021. The issue for buyers is that those homes sold incredibly fast – some went under contract the same day they were listed. The advantage for sellers is that they sold fast and there was a lot of competition that increased the price they received.

Buyers who have been successful are positioning themselves to act decisively when the new listings hit the market.

  1. Working with a trusted real estate professional
  2. Pre-approved by a local lender
  3. Developed a plan to write a competitive offer
  4. Determined their limits financially and emotionally.

Let’s hear those numbers again – there were six million people who bought homes last year. You very well could be among the fortunate ones who buy one this year.  Be committed to what it takes in a highly competitive market.  Surround yourself with a competent and confident team that will produce the results you want.

For more information, download the Buyers Guide and schedule an appointment with us to get the facts about the best plan to get you into a home this year.

I can provide Insider Information on Fairfax VA homes for sale. Get you a FREE Market Snapshot Report of Your Northern Virginia Home’s Value, or  Search All Northern Virginia Homes For Sale. Put that data you need at the tips of your fingers!

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