Every day it seems that something happens to affect the real estate market. Mortgage interest rates currently remain low, but they are on the rise. Home prices are also increasing in many areas. Inventories of homes for sale are lower than in recent years, so available properties are somewhat scarce.

Consumers may need to know more about how to buy a home under today’s conditions. Fortunately, best practices don’t change. Whether it’s a buyer’s market, seller’s market, or something in between, these tips will help you buy a home in any market.

  • Don’t to get too emotional about the process of buying a home. It’s easy to lose your cool if the property you love is sold before you get a chance to look at it, or if someone outbids you for your dream house. Remember that there are always more properties and that you, inevitably, will find one that is right for you.
  • Don’t try to time the market. Purchasing a home is a long-term investment. You are likely to live in this house for several years. So don’t rush to buy simply because you think prices are going up, or put off purchasing because you think prices are falling.
  • Do make your best offer. A lowball offer on a property simply wastes the seller’s time, and your own. If you are serious about buying the house, put your best foot forward by making an offer which reflects the value of the home in that neighborhood and be able to substantiate it with recent comparable sales. 
  • Do work with a good Realtor®. A knowledgeable real estate professional can assist you by helping to assure that you get a good house at a fair price, instead of overpaying for a home you don’t like, or not finding a property at all. Your Realtor® knows the market, can help you find the best options in your price range and structure your offer to make it attractive to the seller.

In this real estate market, home buyers can benefit from a helping hand.  If you’d like that hand, please contact me today for an appointment to discuss the type of property you’d like to find. I can guide you through the buying process and help you locate your new dream home.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager
Serving Chicago's North Shore, North and Northwest Suburbs
[email protected]

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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate market.

Photo courtesy Michelle Meiklejohn, FreeDigitalPhotos.net.