We’re in the heart of the summer, and that means many prospective buyers have vacation—and not house hunting—on their mind. For the first time in a while, there’s lots of inventory on the market and fewer buyers making offers. It’s actually an excellent time for serious buyers to wrap up their home search.
Of course, that doesn’t mean you won’t experience multiple-offer situations, especially on single-family homes and condos located in popular neighborhoods. But it can mean that if you’re preapproved for your loan and in a position to quickly write a competitive offer, you stand a better chance of rising to the top.
I continue to hear about price reductions, missed offer dates and other “soft market” activity. If you’re in town and qualified to buy, seize the day and preempt the buyers who’ll be jumping into the busier Fall market.