2020 was a Tough Year for Manhattan Real Estate The…
Finding Homes For Sale
House hunting has changed. It’s self-directed and much better.
A severe housing shortage has enabled all of this and it’s good. Realtors and brokerages are becoming redundant. The housing market has changed and a whole new approach of DIY home hunting is where it’s at now.
To get you warmed up to be a home hunting superstar, let’s talk more about how the real estate market has changed. And it’s changed even more than you think.
And when we say “homes for sale” we mean houses for the most part. The demand is for single detached family houses and it’s no secret as to which houses are for sale. They’re plastered all over the Internet for one massive sale.
And there’s a whole new set of cities and states where people are targeting. The stats clearly show people are looking out of town. There’s risk and extra cost associated with out of town homebuying.
You’ll want to avoid being a victim of operating in the dark in remote home buying. Of course, many foreigners will be buying their home remotely too, in 2021. They’re doing it now during the pandemic. Is it doing to be you or them that gets that house?
Everyone wants to get out of where they are. The pandemic has been very hard on everyone. People are looking up in Vancouver, Idaho, Florida, North Carolina, Arizona and Hawaii and Costa Rica. With city governments running out of money and saddled with out of control health costs, homeowners like you are interested in moving away.
Pull Your Money out of the Stock Market
If you have savings, holdings in the stock market, gold market, or other assets, get ready to leverage their power to create a winning bid. Get a pre-approved mortgage at locked in low rates, and have something in the tank to trump other buyers. And that’s just a part of a winning home buying strategy. Get strategic and ruthless!
Yes, We Have No Homes for Sale
This one point is discouraging a lot of buyers from getting into the market. The big news about the housing shortage is good for you though because it means less competition from those discouraged buyers. You’re not discouraged and your energy will help you win out in 2021.
But poor home search techniques are causing buyers to foolishly pay more for a house than it’s even close to being worth. You don’t want to be one of those unlucky bidding war participants.
With no supply of homes for sale, you’ll need to be very good at home hunting and come up with a competitive offer for your next house. Buyers often overpay on houses because they’re not bidding in a competitive way, or moving fast enough on buying.
Avoiding Bidding Wars and Soaring Home Prices
And the lack of homes for sale in the US which you’ve read on the housing market report is sending house prices soaring. Whether it’s in New Jersey, Arizona, Utah, Texas, Connecticut, New Hampshire, or North Carolina and Florida, the moving companies can’t keep up with the demand.
Expanding and Enriching Your Home Search
If you’re going to achieve your goal of buying a home in 2021, you’ll need to go about your home search differently. Because your local Realtor doesn’t know much about where you’re going. Check out the homebuyers house search post for ideas on enriching your home search.
And honestly, online home search tools can’t much either. Check out some of them like Opendoor, and you might find 3 homes listed for sale in a city.
Realtors Aren’t the Best Way
Consider the whole point of digital business tools. The point is to make finding, researching, and buying easier and cut out the middleman.
And Realtors in the region you’re considering actually get thousands of desperate buyer inquiries, but often respond with “there are no houses for sale right now.” There will be more in the spring selling season, so you’ll want to practice and hone your home search starting now.
You won’t have any trouble finding Realtors in California, Los Angeles, San Francisco, Philadelphia, Seattle, Atlanta, Tampa, Miami, Dallas, Houston, Austin, Denver, San Antonio, Salt Lake City, San Diego, and Chicago.
Handing the challenge over to a Realtor doesn’t work anymore. They don’t have any selection, leverage, or reach in this new housing market. I can tell you from first-hand knowledge that real estate agents aren’t doing marketing. They’re just scanning their Facebook feeds like anyone else.
If They Don’t Do Marketing
A Realtor who isn’t going all out with real estate marketing isn’t going to be a good ally for you. They’ve made themselves a cost to buyers and sellers.
And Realtors don’t like working hard at such a big scale, with no assurance they’re going to get a sale out of it. And of course, with you scanning the markets, you can’t guarantee any Realtor in any city a certain commission. They want assurances and you have none to give.
If you see a Realtor who is doing quality marketing, they’re most likely doing it for seller leads. Which is great, at least they’re taking care of their own real estate careers. Yet, home sellers are besieged by desperate real estate sales people which makes relations with them tense.
On the buy-side, buyers are a dime a dozen, just a note in the Realtor’s notebook. With no homes to buy and hoards of interested buyers, many Realtors don’t even want to bother.
That’s why a self-directed search for homes for sale is the trend.
Getting Creative with Your Do It Yourself Home Search
You’ll need to be more imaginative, creative and clever to wrest your dream away from the competition. You’ll need to use better online tools. I’d suggest starting with this home search strategy.
Can you buy a home without a Realtor? No, the seller will have a Realtor whom you can negotiate. To buy a home, you’ll need a licensed home inspector whom you’ll work with closely so you’re not getting cheated.
You can hire a real estate attorney to offer guidance and verification of all real estate transactions and legal documentation. You’ll want to look into homeowners insurance and get maxxed out for protection.
You’ll need to look into the pitfalls and legal complications of dealing directly with the seller’s real estate agent.
However, you can always hire a Realtor to complete the transaction once you’ve established a sale. But then again, that Real estate agent could botch the deal and ruin it for you!
We can cover all the dangers and angles related to do it yourself home buying here. Yet, you can begin a process of becoming a house hunting mastermind. The reward is that you will get your dream house in a city or neighborhood you want.
You’ll be actively hunting for houses for sale, not passive. By taking control, you’ll get better results even if you end up hiring a Realtor to make the purchase.
Additional resource: rocketmortgage.com/learn/how-to-buy-house-without-realtor
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