How to win in a highly competitive home-buying environment

Posted by Ray & Poynor on Tuesday, June 22nd, 2021 at 10:07am

 

 

 

Picture this: you’ve decided you’re ready to buy your next home, and you want to move sooner rather than later. However, you keep hearing from friends and family about how hard it is to find a home in the Birmingham area right now. This is the reality for many home-buyers in our market. What can be done?

 

Hire a realtor.

 

Hiring a realtor that knows the market and how to navigate the home-buying process can give you a head start. Ray & Poynor’s realtors are highly trained, knowledgeable and assertive. Your realtor will guide you through the process and help you make the most competitive offer possible. He or she is your advocate and will work diligently to help you achieve your home ownership goals.

 

Make sure your finances are in order.

 

In order to make your offer as competitive as possible, make sure you have already spoken with a lender and obtained a preapproval letter for the amount that they are willing to finance. You’ll also want to know your timeframe for closing. Lately we are seeing some Birmingham homes sell for cash and then close within a few days, but don’t worry if this is not your situation—you can still be competitive!  

 

Keep an open mind.

 

With such little inventory in Birmingham real estate right now, keeping an open mind is very helpful. Write down your list of must-haves in a home. Beyond that, it helps to recognize what is a want versus a need. Know what you can compromise on and what you can’t live without as you embark on your home search.

 

Add a personal touch.

 

When you find a home you love, it doesn’t hurt to add a personal touch to your offer. Writing a letter to the seller and letting them know why you are interested in their home can help. Do you picture raising your family there? Is it in the location you’ve always dreamed of? Let them know!

 

Don’t lose hope if things don’t work out the first time.

 

The reality is that the Birmingham home market is in a multiple offer environment, and, at the end of the day, only one offer can be accepted per home. If you miss out on a home, keep trying! The right one will come along. It’s also worth noting that the current market won’t last forever.

 

The bottom line

 

It is a challenging time for home-buyers in the Birmingham area. If you need advice on navigating the market and finding your dream home, please call our office at 205.279.3036. Our realtors at Ray & Poynor would be happy to help you. 

 

 

 

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