Spring is here and the Atlanta spring market is in full frenzy! Check out these tips for buying real estate in this crazy market from our lead buyers’ agent Kristen Feldman.
- If you’re getting a loan, DO get prequalified! This is SO important! Not only do you need to know the price range of what you can afford, in this ultra-competitive market, most sellers will not even take a second glance at an offer that lacks a prequal letter from a reputable lender. I encourage you to shop around and see which bank and loan officer you feel the most comfortable with and who can offer you the best rate. Once you get the thumbs up from your lender, contact your agent and you can begin your search for the perfect home. Not sure who to contact for a loan? No problem! We have a list of our preferred lenders on hand for you to call. You may not realize it, but your lender and your real estate agent will be in constant contact while you are under contract. (That’s why we have our preferred lenders! We know you are in great hands with our trusted partners.)
- DO make your wish list (but be realistic!) Examples: What area of town? A house, a townhome, or a condo? 3 bedrooms and 2 bathrooms? Master on the main floor? Move-in ready? Having an idea of what you want will really help you and your agent focus your search and narrow down what is available so you can start looking at properties. If you are ready to move NOW be sure to look at emails that your agent sends you with links to properties; in this market many homes sell in a matter of hours and waiting even a day to check out a new property link can mean missing out on a great home. Feel free to browse online yourself as well and send on any properties that pique your interest!
- If you are working with us (or any agent for that matter), DON’T contact the listing agent to set up appointments yourself or get more information. The listing agent represents the seller. As your buying agent, it’s our job to gather information on your behalf and to set up appointments for you to view properties. Even a minor remark to a listing agent during a showing (for instance, that you MUST move by a certain date, or that your home is under contract so you’re in a rush to find a home) can greatly affect your negotiating power. Just go through us. That’s why we’re your agents!
- DO be patient and trust us! We could see dozens of properties before we find “the one.” Don’t assume we aren’t doing our job just because we aren’t under contract yet. In a market like the current Atlanta real estate market, inventory is extremely low. Aside from just scouring the MLS constantly, we are constantly networking with fellow agents to find out about “coming soon” properties and off market listings. So though you may not realize it, we are always working for you!
- DO be aggressive. When you find a home that works, put in an offer sooner rather than later. Trust your instincts, and trust us. If we encourage you to go over list price (which is the norm in the current real estate market!) it’s because we want to ensure you get the home you want. (If you’re worried about buyer’s remorse, keep in mind that in Georgia buyers have a due diligence period– typically 7-10 days– in which they can terminate for any reason. Although you shouldn’t make a habit of going under contract and terminating because you get cold feet, it happens, and you’re protected.)
Are you interested in learning more about the home buying process? Are you ready to jump into the Atlanta real estate market? We have over 12 years of combined experience in the Atlanta real estate market and would love to guide you through the process. Contact us today to get started!