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TIPS FOR BUYERS IN ARLINGTON, VA’S, SELLER’S MARKET

You may have heard that the US real estate market, in general, has become a “seller’s market” recently, with the DC area, INCLUDING ARLINGTON, VA, right at the top. There are fewer houses on the market which results in multiple offers, escalation clauses and competitive bidding. Great news for sellers, but what about if you are a buyer? Here are some tips for being a savvy buyer in today’s market:

1. Put down a large down payment. ARLINGTON sellers often like to see that. It may give them a feeling of comfort. Their perception is that you can afford the house and that a bank will approve you. In order to do this, you should plan ahead, getting your financing in order in advance of your home search. That way you can move quickly when you’re ready to make an offer.

2. Pick a great lender. Make sure you’ve selected one who responds to your calls and emails promptly. That will be a good indicator that he or she will be ready to move quickly when the time comes to make your offer.

3. Get a top notch agent who specializes in the Arlington market. Specialization generally means more focus on and  more knowledge of an area. Then, be prepared to make an offer on a home that you like. You’ll want to see houses the same day they are first listed. This will require you to rely on the expertise of your agent. He or she has access to homes often immediately when they come on the market and can keep you posted on houses you may be interested in, if you cannot see them right away. If your agent is working diligently in their market and are well-connected in the real estate community and in their neighborhoods of speciality, they may even know about homes coming on the market – before they come on!

4. Be flexible. This means being especially flexible with contingencies. Offering shorter contingencies like a home inspection, appraisal and financing can entice sellers to choose your contract over another in a competitive situation, if timing is important to them.

As always, I’m here and ready to help you buy, or list and sell, your home. We are specialists in Arlington, and work in the rest of VA, MD and DC as well, if your search is taking you elsewhere. money

Ken Courtade

The Yes I Ken! Team

703.981.4646

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BUYING A HOME IN ARLINGTON: IMPORTANT THINGS TO CONSIDER IN ADVANCE

So you think you’re ready to buy a home in Arlington, or the DC area? Here are some important things to consider before you begin the search for your new home:

1. Know your credit score: be sure you are aware of your credit history and FICO score. A lender will be looking at this information to decide what kind of borrower you will be, so this is imperative.

2. Pick the right agent who knows Arlington and Arlington homes – is a specialist here: Do your research first. Not only should your Realtor be experienced overall, especially in the area you are searching in, but you should feel comfortable with and have trust in her or him.

3.Get pre-approved for your loan first. This will save time and potential headaches down the road.

4. Be realistic about the house you are looking at: Think about what you can change and what you can’t. Ask yourself what you would be willing to live with, and/or what the cost would be to change it.

5. Don’t get too emotionally invested in one house. If it means overextending your budget it is probably not the right choice.

I hope this helps. We love giving consultative advise to our clients, and love sharing it with folks who are considering buying in Arlington or the DC area.

Getting it SOLD (and BOUGHT!) – for YOU!

Ken Courtade

The Yes I Ken! Team

703.981.4646

Licensed in VA, DC & MD

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