Time to Buy? Tips for Navigating a Hot Real Estate Market

In the past few years, the news has been flooded with all of the changes and surprises in the real estate market. Figuring out how to navigate a hot housing market can definitely be accomplished. These tips will help you navigate the current housing market and find the home of your dreams. 

Houses in 2023 

2023 is here, and for many, their sights are set on a first-time or new home. Determining if this is the year for you requires looking at both sides and different factors. Higher interest rates, layoffs, low inventory, especially in more populated areas, and increases in everyday living expenses will impact homebuying. Housing sitting on the market a little longer and reports stating that buyers can negotiate more now will also work for some people. It is always best to do a full review of your finances and goals to determine how to buy a house in a hot market. 

Current Housing Market Tips 

To assist with the ongoing battle with cash offers, you can make it clear to the seller you can surely complete the deal. Getting preapproved and being prepared for a larger down payment may work in your favor and help you win in the current housing market. A trusted real estate agent who is great at negotiation. Research everyone and each company you want to use, paying attention to the customer’s experience. You deserve the best support system to navigate a hot housing market and ensure you get what you truly want out of the deal. 

Brock Built Homes feature new construction homes where instead of offers, there is a VIP selling period to benefit the buyer. During the first weekend/week of the community’s opening, costs are typically lower than the regular period, and there are other wonderful incentives. Brock Built Homes’ perks with new construction include a home builder warranty, personalized options, energy efficiency, and less maintenance. 

Winning at the Sellers’ Market 

Winning in the sellers’ market means moving fast, being prepared by completing the mortgage underwriting before you start, working on making a connection with the seller if possible, and packing some patience. It will be all worth it, but it will require some strategic moves and, again, a good real estate agent that will work hard on your behalf. Your agent will guide you on anything you need to know and actions to put in place during your search. 

Here at Brock Built Homes, we wish you all of the best in figuring out how to navigate the hot housing market!