You have seen the articles ranking Raleigh among the best places to get a job, live, raise a family, etc. The word is out, the time is right and everyone seems to know it. What does that mean for those looking to buy or sell a home in the Raleigh area?
The bottom line is there is no time to waste. If you see the right home, move quickly. Multiple offers are common place. Being in a multiple offer situation means that you must be ready to bring your best offer the first time. The time when buyers had the luxury of back forth negotiations is gone. If you bring less than your best offer, you will likely lose the home to someone who is willing to bring their best.
The current median time on market is just 12 days. If you see your dream home this weekend, count on it being sold next weekend. Keeping in mind that each $1000 in principle is less than $5.00 per month in mortgage payment, many people who are losing their dream home are doing so for the cost of a couple happy meals. From that point of view those meals don't seem so happy any more.
The solution. Work closely with your buyer's agent. Contact your lender and get your pre-approval ready in advance or have a proof of funds letter prepared for a cash offer. Be prepared to make your best offer first.
Happy home buying!
Author:Michael Johnson Phone: 919-413-0495 Dated: May 28th 2015 Views: 561 About Michael: After choosing a career in real estate in 1990 I had one pressing question to answer. Do I want to b...
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"One day, after Mr. Michael Johnson, took my wife and myself around for literally four (4) hours, perhaps even more on that day, looking for a house. I was at the point where I myself was saying to him that I thought that he had done enough for that day. We got to a lot in Wake Forest, that both my wife and myself liked. And as we stood there looking around I began speaking to Mr. Johnson, about my financial situation which to be truthful I am not proudful about one bit. Considering my age, and the length of time my wife and I have worked and yet our financial condition sucks, forgive my english grammar. Mr. Johnson, stood there and listened to me rant and rave about this matter, without as much as saying one single word. His eyes full of tears but yet he did not cry. He knew that I was hurt and ashamed of my situation, but not once did he as much as give me an idea that he did not care. I will never as long as I live forget that moment in my life, never. Mr. Johnson, then said to me after I dried my eyes from the tears that I shed there in front of him, he said to me, Oscar, we will do all we can to find you a home, I promise you that. Well, on December 31st. my wife, Carlota Belmo, Mr. Nelson Estrela, of New Penn Financial, Mr. Hamrick, the Attorney, Mr. Michael Johnson and myself Oscar Belmo, were at the table for closing on the home of our dream. Thanks to the effort of so many hard working people and the Grace of God. Thank you, thank you, thank you from the bottom of our heart. We love each and every one of you. God, bless you. May God, bless and keep each and every one of you."