Hunting Washington Forum

Classifieds & Organizations => Sponsor Classifieds => Topic started by: pianoman9701 on January 14, 2022, 10:22:40 AM

Title: Great Time to Purchase a Home
Post by: pianoman9701 on January 14, 2022, 10:22:40 AM: Winter is always a good time to shop for a house. But this year, inventory has increased 15% while the number of buyers has decreased, since summer. That means more choices with fewer buyers and less pressure from other bids. Some other things to help home-buying success right now:

Shop during the week.
Ask your realtor about the newest listings in your area
Offer a higher earnest deposit
Offer a more generous closing and move out date to the sellers - two months instead of one
Lock before the Fed raises rates

This is a good time. Go out and find that dream home! Remember to get your pre-approval from your favorite mortgage loan officer first. :tup:
Title: Re: Great Time to Purchase a Home
Post by: elkaholic123 on January 14, 2022, 10:25:01 AM: The wife and I just bid $75,000 over asking price and were still outbid :bash:
7 bidders on house!
Title: Re: Great Time to Purchase a Home
Post by: mcrawfordaf on January 14, 2022, 10:33:41 AM: Quote from: elkaholic123 on January 14, 2022, 10:25:01 AM
The wife and I just bid $75,000 over asking price and were still outbid :bash:
7 bidders on house!

Put in offers on over a half dozen houses this year. All out bid by way over asking plus an additional $20-30k on a 22AD. Single family homes on 2-3 parcel lots sold for demo to install town homes. Manufactureds being bulldozed to split the land under it. Majority of sellers won't even consider VA offers... its been incredibly frustrating.
Title: Re: Great Time to Purchase a Home
Post by: pianoman9701 on January 14, 2022, 10:35:24 AM: That's too bad. Demand is still high, but there are more opportunities than 6 months ago. A lot depends on where you're looking, too. Many people are leaving Everett and Seattle to find nicer places to live. The market around Puget Sound is growing in the suburban areas. Spokane is also tough as one of the top ten growing real estate markets in the country.
Title: Re: Great Time to Purchase a Home
Post by: pianoman9701 on January 14, 2022, 10:39:29 AM: Quote from: mcrawfordaf on January 14, 2022, 10:33:41 AM
Quote from: elkaholic123 on January 14, 2022, 10:25:01 AM
The wife and I just bid $75,000 over asking price and were still outbid :bash:
7 bidders on house!

Put in offers on over a half dozen houses this year. All out bid by way over asking plus an additional $20-30k on a 22AD. Single family homes on 2-3 parcel lots sold for demo to install town homes. Manufactureds being bulldozed to split the land under it. Majority of sellers won't even consider VA offers... its been incredibly frustrating.

VA purchase loans used to be a real pain. Things have changed. Regulation and paperwork has relaxed. Many realtors are unaware of that fact and are missing the boat with veterans. Pre-approvals will help when you have a letter in hand for the asking price.