The Chicago and suburban real estate market is tough for first-time home buyers these days. The lack of listings has forced home prices higher, and caused homes to sell faster! Yet the basics of the home buying process are still critically important. Without them, you won’t be ready to make the winning offer.
Make an effort to educate yourself about home buying. There is simply too much money at stake, and too few homes for sale, for buyers to learn on the fly. We make it easy for you to get started with our free homebuying webinars. We can also refer you to excellent local mortgage lenders who will help you get your financing in order.
Once you have your mortgage pre-approval in hand, and you know what you’re looking for in a home, it’s time to partner with a real estate agent who specializes in helping home buyers. First-time buyers usually get under-served when it comes to real estate representation, but here at StartingPoint Realty, we’ve been all about first-time buyers since 2004.
Staying in contact with your agent, and responding to new listing alerts is extremely important! Sometimes we’ll know about pre-market listings “coming soon,” but these windows of opportunity don’t last long.
When making an offer in a hot market, make your best offer first and make it fast. If you are willing (and qualified) to pay “x” dollars for the home, don’t make your first offer for less and then hope for another chance to bid higher. You may not get it. (In a slower market, our advice may be different. Remember that every neighborhood has its own dynamics.)
There is no “formula” for writing an offer that’s going to win every time, because every home and situation is unique. The highest offer isn’t always the winning offer! For the best opportunities, be well-prepared for the home buying process, and have the guidance of an experienced Chicago area real estate agent.
StartingPoint Realty – helping first-time home buyers since 2004!
StartingPoint Realty proudly serves first-time home buyers throughout the entire Chicago area. Get an introduction to home buying by attending our free home buying webinar! There’s no sales pressure and no obligation. Always feel welcome to contact us for help with your Chicago home buying questions!
Ryan Gable Broker/CEO Starting Point Realty
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