Dealing with a Hot Market When You’re a Buyer

Dealing with a Hot Market When You’re a Buyer

I hope you had a fun and safe 4th of July! The market is hot, and if you’re a buyer, you are really going to feel the heat! Within only a few days of being listed, properties are getting multiple offers and selling faster than ever! Don’t let yourself get caught up in the competition without a game plan! Here’s what you can do to help find your dream property:

  • GET PREAPPROVED!!! We cannot stress this enough- we’ve seen several buyers lose out on their dream property because they haven’t been preapproved.  Once you get that number, make sure it’s not pushing your budget to its limit. Just because you can afford a property doesn’t mean there won’t be extra expenses that can make that mortgage feel like a debt-sentence.
    • Use a local lender if possible, because they know our recreational market better (and will know local appraisers who better know how to appraise our properties)- I’d be happy to recommend one.
  • Find a realtor! Realtors can show you properties (even if they aren’t listing them), can access more information that isn’t provided to the public, and a local realtor will know when something is overpriced. Many realtors, like ones with Edina Realty, have access to NetworkOne (which shows us properties before they even hit the market).
    • Negotiating can be dangerous when emotions run high. If you fall in love with a property, it might be hard to see when you’re being taken advantage of, or you might miss a glaring flaw because the lakeview is perfect- we’re all guilty of it. A realtor can help see the overall picture and get you the best deal.
    • I have 18 years of experience as a realtor in NW Wisconsin specializing in waterfront property, so I know the area and have extensive knowledge of its lakes and current market values. I invite you to consider me in helping you (or someone you know) find a place where you can unwind up north. *Please disregard if you are already working with an agent or have a signed buyer’s agency agreement.
  • Get on an autosearch. Since everything is moving so quickly, it helps to be alerted of just-listed properties, price changes, etc. We can put you on an autosearch so when properties meeting your criteria show up on the market, you be alerted!
    • When you complete this criteria survey, we can add you to the autosearch- please remember to add your email to the last question.