The Spokane housing market is the best it’s been in years. Inventory is down, housing prices are up and many homes are receiving multiple offers and being sold in less than a week, or even a day! For sellers, this is great news, but for buyers it can be frustrating and difficult to keep up with this fast paced ecosystem. Here at 4 Degrees we work hard to make sure you have every advantage when it comes to finding the home you really want, “settling” is not in our vocabulary!
It’s important to be prepared, knowledgable and quick in your decisions, but the MOST important thing is to have the right agent by your side. Your agent is your ally, your expert guide in the crazy housing market jungle. They are trained and experienced in knowing the shortcuts, tricks of the trade and strategies for winning that bidding war. Your agent will also know about listings BEFORE they hit the market generally, which means you will have an immediate advantage when it comes to getting your bid in.
We asked two of our awesome agents, Sara Koenig and Rose O’Dell, to give us some of their top tips for surviving your house hunting journey.
From Sara Koenig, 4 Degrees Realtor
1. Be realistic with your offer, the home still has to pass appraisal. This market will make a buyer want to offer way over asking price, and we must be careful to remember that appraisal needs to align with the offer. Have your realtor pull comps in the area to be sure what you offer is a good and reasonable value.
2. Get to the new listings ASAP! Don’t wait! And DON’T have a realtor that is making you wait to see them! Hire an agent that is flexible and willing to get you in to those listings right away!
From Rose O’Dell, 4 Degrees Realtor
3. Stop using Zillow and log into 4degrees.com or roseodell.com for updated info on new listings and pending properties!
4. Allow your agent to help you connect with a lender, they know the best ones to use.
5. Do not look at properties until you are fully pre-approved.
6. Be specific about what you are interested in, but be open to taking a look at what your realtor thinks you might like.
7. If you don’t have an agent, interview a few of them (if you’re only getting an auto email, your agent isn’t working for you).
8. Get your docs to your lender right away. It could be the matter of closing on time or not closing at all.
9. Set aside money to pay your own closing costs! It could make the difference between winning the bid or not.
10. Always present your highest and best offer, if you don’t win it, you know it wasn’t the right property. This market is not the time to low ball the seller.
Are you looking for an agent? We’ve got just the one, visit our agent page here.