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6 Winning Strategies for Home Buyers in a Steaming HOT Seller’s Market

In our current Hernando County real estate market, with record-low available housing inventory, buyers are finding themselves competing with multiple offers and in the middle of bidding wars! Follow these 6 strategies if YOU want to WIN the opportunity to land that “PERFECT HOME”!

1. Work with a FULL-TIME REALTOR who is knowledgeable of the area and the market

Buying a home is a 4-part process that includes looking for a property, arranging financing, negotiating a contract and then getting to settlement. Full-time agents can offer guidance and insight during ALL phases.

2. Have your pre-approval letter in hand

Before you preview homes, provide your up-to-date mortgage pre-approval letter and/or “proof of liquid funds” to your REALTOR indicating you are financially prepared to purchase a home.

3. Be serious about your home search

House hunting must be your priority, not just a weekend pastime. Check for new listings regularly and be prepared to drop everything to preview a home with your REALTOR as soon as it hits the market. Most importantly, be ready to make a quick decision.

4. Contemplate waiving contingencies

When making an offer, home buyers often include contingencies to limit the possibility of losing their good faith deposit. Waiving contingencies could help you earn the primary position, especially when there are the multiple offers. However, it does come with risks. To gauge your risks, consult with your REALTOR or attorney.

5. LOWBALL OFFERS … SERIOUSLY??

Putting your “Best Foot Forward” with your initial offer is of utmost importance! In this market, if you don’t bid aggressively, you may not get a 2nd chance. Some buyers need to lose out several times on a home BEFORE they realize how important it is to make their initial offer as appealing as possible.

6. BE PATIENT!

Buying a home is stressful, in any market, no less a STEAMING HOT SELLER’S MARKET. Work with your REALTOR through every twist and turn of your home purchase. You’ll find them to be an invaluable resource as they’ll help you find the home that’s just right for YOU!

Check out Hernando County market trends by visiting Hernando County Local Market Conditions, which is updated monthly.

Thinking of SELLING or BUYING a home in the Spring Hill, Brooksville, Weeki Wachee and Hernando Beach areas of Hernando County, Florida? Visit www.GailSellsFloridaHomes.com to explore our state-of-the-art MLS Map Search Feature where BUYERS can SEARCH MLS listings and SELLERS can SEE what their competition is doing!

Until then… it’s all about YOU!

About Gail Spada

Gail Spada’s real estate career began in 1990 and it didn’t take long for Gail to discover her love for the industry. In 2001, she began her real estate sales profession with Century 21 Alliance Realty in Spring Hill, FL. Gail has worked diligently to stay on top of her game. She is a Florida Licensed REALTOR® and has earned the following designations/certifications to include: GRI (Graduate Realtor Institute), ePRO (Internet Savvy Real Estate Specialist), AHWD (At Home With Diversity – One American) and SFR. It is that well-rounded training and experience, coupled with her intimate knowledge of the Hernando County real estate market, that enables Gail to deliver results to her customers.