House-hunting in a hot seller’s market can be exhausting and frustrating (related article: Why Buy in the Poconos). Between making time to see properties and then preparing an offer only to end up in yet another bidding war, buyers are feeling the exasperation of what, at times, can feel like an endless endeavor with no happy ending. This reality prompted me to share a few tips for buyers in this type of market that may help to alleviate some of the negative emotions you may be feeling right now or, for others who haven’t started their search yet, I hope to provide this insight as a preventative measure against such negative feelings. Here are a few tips for home buyers searching the Poconos for the perfect property right now (also, you can search the Pocono MLS for free right here).
- Consider what your actual offering power is and use that to guide your price range. Right now in the Poconos houses are routinely selling for more than asking price and buyers are feeling the heat of heavy competition. With that knowledge, consider what your actual price range is in this market. If you’re pre-approved for $200k and homes in your area are selling for $20k above asking price, refocus your efforts to the $150k-$175k price range as that will be much more realistic.
- Interview Realtors that specialize in the areas you are home-hunting in. In a seller market like this where properties are selling like hot cakes, it is more important than ever to have speed – speed of access, speed of information, etc. Find yourself a Realtor that specializes in the area you are home-hunting in because that’s the kind of agent who will already know what the HOA dues are, where the closest hospital and schools are, what things look like in the different seasons, etc. – any of the questions you will typically have when house-hunting are still going to be there and you will want someone who has the knowledge or access to the information fast. Don’t miss out on a property that is perfect for you just because you’re waiting to hear back from your agent – there are enough factors working against you as a buyer in this market, your agent shouldn’t be one of them.
- Sign up for listing alerts. Whichever Realtor you settle on to help guide you through your journey will have access to technology usually referred to as listing alerts. Basically, your agent will put your contact information into their database and then will have the option to set your email and/or text message to receive listing alerts as soon as a property matching what you want is listed for sale. This is a free and invaluable tool for buyers in today’s market because you will need to move and act swiftly to have a shot at anything that gets listed at a realistic price.
If you’re starting your home search in the Poconos and you want a top-shelf Realtor to help guide you in your journey, contact me, Matt Cordisco, from Pocono Mountain Lakes Realty – the top “Mom and Pop Shop” for real estate needs in the Poconos and Endless Mountains. I’m always happy to help people navigate the area and find their own Pocono Peace of Mind.
Not ready to talk? No worries, I get it 🙂 You can start searching on your own for free right here on my user-friendly and up-to-the-minute accurate website! Give me a shout if you need more “hands-on” assistance. Happy house hunting!