Buyer prepare
Inventory is low – why not build your dream home?
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It’s a seller’s market, and Realtors are advising buyers to know exactly what they want and do their home research in advance, be ready to make a decision quickly, have their finances in order, and be prepared for hefty due diligence fees.
by ANNETTE JOYCE Today’s real estate market is fast and furious. Inflated prices, short market times, multiple offers and high due diligence fees have become the norm in this seller’s market. According to local Realtors, the current market requires an entirely different approach and mindset from what buyers have been accustomed to. More than ever, when buyers begin a search for their new home, they need to have a clear idea of what they want, how much they can afford and how willing they are to make compromises. We talked to area Realtors to find out specifically what buyers can do to best position themselves to get the house they want, and here’s what they had to say...
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Phillip Stone, a Realtor and co-owner of A New Dawn Realty in Stokesdale, described
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Fall 2021
the market as “frantic,” adding that serious buyers need to be willing and able to make fast decisions and move quickly. He noted that he keeps an eye out for “Coming Soon,” signs, which are advance announcements letting Realtors know a property is about to hit the market, and quickly schedules appointments for his clients. “If you don’t join early in the process, you might not get to look at the property before the seller accepts an offer,” he said. Because of the low inventory, houses are being snatched off the market almost as soon as they appear. “If buyers want a particular area or neighborhood, they must act immediately,” said longtime Realtor and Stokesdale resident Bobbie Gardner, owner of Bobbie Gardner Realty. “I sold a house in 30 minutes – which is crazy!”
