Real estate markets always go through cycles, but the current market is unique in the fact that interest rates are low, lending is still tight, and home prices are rising in most parts of the country.
The key to successfully buying a home in this type of market is preparation. Preparing for the purchase of a house is just as important as the offer you make. We've provided the following tips for just this reason—to help you prepare for buying a home in a rising market.
Find a good agent
A good real estate agent is worth every penny they make when you're looking to buy a home. This is especially true in markets where multiple offers are surfacing. Parts of the country, like California, require mounds of paperwork and regulations a buyer must complete in the transaction. Having a good real estate agent to help you navigate these waters is invaluable when negotiating for a home.
Getting a jump on new listings is also key to buying the house you want in a competitive market—having a good agent that's connected makes all the difference when it comes to "hot" listings.
Get pre-approved—know what you're worth
When you're negotiating in a real estate market where multiple offers abound, the cleaner the offer the better your chance of closing the deal.
Sellers love buyers who have their financing already approved. They gravitate to offers where they don't have to worry about whe...