Smokin' HOT

That's how I describe the current real estate market. Literally, the last 4 transactions I am aware of, including one of my own, had multiple offers.  If you have ever thought of moving to downsize, up-size, or even condo-size now is a great time to list your home.  This market cannot last forever and a recent article on Realtor.com talks about what to do when the market turns.  Here is what they say to do.

1. Know the Market - this is what a great agent comes in to play. A good agent follows numbers, tracks data and knows the local statistics.  Get to know someone and their knowledge before choosing them as an agent. I am always available and encourage you to interview me.

2. Low-ball the right way - I recently had a buyer interested in low-balling for an investment property but the seller already had an appraisal and had rejected 2 offers.  A good agent will get that information early on and not waste your time.

3. Know when to ask for upgrades and discounts - This really only works well in a Buyer's Market because then you have leverage.  It's hard to get "extras" when there are 3-4 offers on a property.  In a recent transaction I was able to get over 10% off the list price.

4. Show you are serious -  As a  buyer this means know what you are looking for, be pre-approved by a mortgage lender or if purchasing with cash have a letter from the bank showing you have appropriate funds to purchase your dream home.

5. Talk closing costs - These can get very expensive and must be calculated into your overall purchase. On average a buyer will pay 2-5% of the sales price and the average is $3,700. Of course the more home you buy the more your costs will be. But, did you know sellers will often pay some of your costs. They are allowed to pay up to 3% which can really add up.

I hope this helps!

-Jason