• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Accessibility Statement

Follow Us on FacebookFollow Us on TwitterFollow Us on InstagramFollow Us on YouTubeRSS Feed

Kimberly Howell Properties

San Antonio Real Estate

office@kimberlyhowell.com
(210) 493-6888
  • Blog
  • About Us
  • Agents
  • Buyers
    • Neighborhoods
    • Relocation Information
  • Sellers
  • Listings
    • Available Rentals
    • Homes for Sale
    • McNair Custom Homes
    • Open Houses
  • Contact
  • Rental SearchHomes for Rent
  • REALTORS®Find an Agent
  • McNair Custom HomesNew Construction
  • Property SearchHomes for Sale
You are here: Home / Buying a Home / Looking to Buy a Home in a Hot Market?

Looking to Buy a Home in a Hot Market?

March 16, 2015 by khproperties Leave a Comment

Buy a Home

Be Prepared to Buy a Home

Right now, new homes sale are flying off the shelves pretty much everywhere. When you’re ready to buy a home in a seller’s market like the one we’re currently experiencing, it pays to be prepared and know what you want and the steps to getting it. Going into the process blind will only lead to frustration and the possibility of not getting the home you want. We thought we’d put together a few tips for those of you that want to buy a home right now and help you get the best results in this hot market.

Work with a Realtor Obviously, we’re biased towards this step, since we are Realtors, but the fact is, real estate agents in San Antonio are here for a reason. We assist you not only in finding the property, but negotiating and walking you through the closing process. We do this every day, so we know the pitfalls to avoid, the current trends in pricing, how to avoid a bad appraisal…the list goes on and on. And when a deal is looking shaky before closing, we will fight to keep the transaction alive, so that you can close on time and move into your new home. We even have some suggestions on how to choose a Realtor that’s right for you. You may also visit sites like https://reali.com/cash-offer/ to help you submit a cash offer on your dream home.

Get preapproved by a reputable lender. Getting a loan preapproval is something we preach all the time – getting this step taken care of before looking at homes is not only smart, but these days crucial. Knowing what you can afford is the first step to knowing what kind of home we should be looking for. But not any preapproval will do – you should always seek a reputable lender – someone locally preferably. A local lender can make a huge difference – being able to actually walk into an office and talk to someone when there’s an issue can make all the difference. There are places online where you can get quick preapprovals, but time and time again, we see the frustrations caused by these companies. Your best bet to keep things running smooth is to talk to a few local lenders, ask your agent for recommendations, and then sit down with a few and see if they’re a good fit.

Know what you want, but be prepared to be flexible. We hear it all the time, “if only we could take the gameroom from this house and add it to this house and then pick up the whole thing and put it on this other lot over here…” Unless you’re building a new home from the ground up, it’s pretty hard to find every piece of your dream home in one place. We recommend every Real Estate Property Buyer to write a list of absolute must-haves, then write a list of would-really-like-to-haves. Sometimes you’ll find an almost perfect home, but it’s missing a few things – consider if you can add those things yourself at a later date. It can be hard to see past some of the things that are missing from a home, but often that’s what you need to do to see the benefits of the home in front of you.

Communicate changes to your real estate agent. Often during the search process, you’ll find that your wish list items change. Be sure to communicate these changes to your agent. It’s very common for buyers to start with one thing in mind and wind up buying something very different in the end. Letting your agent know as these factors change will help them keep the search focused.

Be prepared to take action. When you find the house, don’t delay. A few hours or a day or two can quickly mean you’ll lose the house to another buyer. Now is not the time for mulling things over – while we want you to make the right purchase, we also hate seeing you lose your dream home because you wanted to take a few days to think about it.

Multiple offers are more common at the moment. Be prepared to make a strong offer on the home. Very few lowball offers are making it very far these days. Everyone wants to buy a home for the best price possible, but sellers want to sell for the most they can possibly get for their home. With inventory low and sellers controlling the market, they will win every time.

When the home is under contract and the underwriter asks for documentation – do not delay. The underwriters work for the lender and work to ensure that they should lend you the money to buy the house. It’s all about analyzing risk for them. If they ask for documentation (and they will – probably a lot), don’t delay. Get it to them immediately, even if this is the third time they’ve asked for it. Slowing down the underwriter can be costly and delay closing. A seller does not have a contractual obligation to extend you more time to close on the house…they often will because they’d rather sell the house than start all over again, but they do not have to. Give the lender everything quickly and the process will go much more smoothly.

Don’t let obstacles impede your progress. Sometimes the process of buying a home can be frustrating. Try and remain calm and remember the end goal – you in your new home. It’s easy to lose sight of that at times, so just keep pushing toward that goal and you can get there!

image courtesy of Giulia van Pelt

Related Posts

  • Things to Do After You Move InThings to Do After You Move In
  • 6 Steps to Take Before Selling Your Home6 Steps to Take Before Selling Your Home
  • Fix Up Your Home Before Putting It On The MarketFix Up Your Home Before Putting It On The Market
  • Moving Day – Are You Prepared for Your Move?Moving Day – Are You Prepared for Your Move?
  • Want to sell your home faster than your neighbor?Want to sell your home faster than your neighbor?

Filed Under: Buying a Home Tagged With: tips, advice, buy a home, sellers market

Quick Search

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Open Floorplan

Is An Open Floorplan The Right Style For You?

Open floorplan living is often billed as the perfect floor plan, bringing family together in a single room where cooking, conversation and the screen share the same space. It has been a popular feature of a … [Read More...] about Is An Open Floorplan The Right Style For You?

New Kitchen

Nine Mistakes To Avoid With A New Kitchen

No room carries more influence with a buyer than the kitchen because it’s where the everyone gathers and many memories are made. The kitchen can represent up to 20% of the entire value of a property, so it’s … [Read More...] about Nine Mistakes To Avoid With A New Kitchen

House Fire Safety

9 Ways To Avoid Housefires

A fire in your home can happen at any time of the year, but with colder months upon us it’s easy to see how the danger increases with the setting of wood-burning heaters and the use of candles to create a cozy … [Read More...] about 9 Ways To Avoid Housefires

Call A Plumber

Is It Time To Call A Plumber?

As a homeowner, you’ll inevitably have to call in a Sydney plumber to deal with plumbing problems at some stage. It’s one of the ‘pleasures’ of owning property! Choosing the right contractor can feel a little … [Read More...] about Is It Time To Call A Plumber?

First Time Homebuyer

8 Tips For First Time Homebuyers

Being a first time homebuyer can feel quite intimidating – you’ve got to deal with agents, sellers, rival buyers, banks, and title companies. And it’s not always clear what role each of them plays in the … [Read More...] about 8 Tips For First Time Homebuyers

Search Our Site

Real Estate Topics

  • Buying a Home
  • Homeowner Tips
  • KHP News
  • Local Events
  • Local Laws
  • Miscellaneous
  • Mortgages and Financing
  • Open Houses
  • Real Estate
  • Real Estate Market
  • Renters and Landlords
  • San Antonio Places
  • Sell Your Home
  • Technology
Our real estate agents can help you with properties anywhere in Texas. If you need assistance finding agents in other parts of the country, please contact us.

Search Homes

Explore Cities

  • Alamo Heights 27 Listings
  • Bandera 383 Listings
  • Blanco 157 Listings
  • Boerne 608 Listings
  • Bulverde 310 Listings
  • Canyon Lake 365 Listings
  • Castle Hills 20 Listings
  • Castroville 78 Listings
  • Cibolo 351 Listings
  • Comfort 56 Listings
  • Converse 552 Listings
  • Fair Oaks Ranch 67 Listings
  • Floresville 270 Listings
  • Garden Ridge 24 Listings
  • Helotes 201 Listings
  • Hill Country Village 3 Listings
  • La Vernia 181 Listings
  • Lakehills 119 Listings
  • Leon Valley 24 Listings
  • Live Oak 56 Listings
  • Mico 117 Listings
  • New Braunfels 1311 Listings
  • Olmos Park 5 Listings
  • San Antonio 9513 Listings
  • Schertz 270 Listings
  • Seguin 611 Listings
  • Selma 58 Listings
  • Shavano Park 14 Listings
  • Spring Branch 360 Listings
  • Terrell Hills 25 Listings
  • Universal City 71 Listings
  • Windcrest 30 Listings
  • Hollywood Pk 5 Listings

Stay up to date with the latest from Kimberly Howell Properties.

San Antonio real estate and property information provided by Kimberly Howell Properties. Kimberly Howell Properties does not assume any liability or responsibility for the operation or content of any of the linked resources, nor for any of the interpretations, comments, graphics, or opinions contained therein. All information deemed reliable, but not guaranteed.

KJH Properties, Inc. is a licensed real estate brokerage in the State of Texas, Equal Opportunity Employer, and supporter of the Fair Housing Act.

TREC Information About Brokerage Services | TREC Consumer Protection Notice | Privacy Policy

All content © 2009-2020 Kimberly Howell Properties, unless otherwise noted.