The real estate market in Metro Atlanta is on fire this spring. Homes are selling at a record pace. Multiple offer situations happen every day. There is a shortage of homes for sale, which means competition is fierce. How can you, as the buyer, be a top contender and hopefully the winner when it comes to the home of your dreams?
Rule No. 1 – Don’t Wait
In today’s fast-moving market, the buyer that waits is often the buyer who misses out. We understand how big the decision to buy is, but thinking it over for 24 hours gives all the other buyers (and there are a lot of them) time to move before you do. Believe it or not, homes today are selling even before they are officially listed, which makes working with a qualified PSP Realtor even more important.
Work with a Peggy Slappey Properties REALTOR®
Hire a qualified, knowledgeable PSP Realtor to help in your home search and navigate the negotiation process once you decide to make an offer. Real estate transactions involve inspections, counter offers, appraisals, repairs, and plenty of legal documents that must be executed correctly. Get advice you can count on throughout the process by hiring a professional that knows the business, and you’ll be a top contender every time. Our agents also have access to unlisted properties (sometimes called pocket listings), which could give you the inside edge needed to find the home of your dreams before anyone else gets to see it.
Examine Your Finances
If you’re like most buyers, you’ll need to secure financing with a lender before you can buy. Before speaking with one, gather all the information you can about your personal finances, including bank statements, loans, credit cards, and your credit report. Buyers are often surprised by items on their credit that can derail the home buying process. If you catch a problem early, you’ll have time to correct it.
This is a great time to add up your available savings, too. While there are down payment assistance programs available, not every buyer will qualify for one. Most loans require a 20% down payment. One great way to save is to compute your estimated monthly payment (you can do that HERE), and try to save it each month even before you are ready to buy.
Visit with A Lender to Obtain Pre-Approval
Speak to a qualified lending expert to find out exactly how much house you can afford based on your savings, debt, income, and credit history. With a pre-approval letter in hand, you are automatically a more qualified (and informed) buyer than those who have not completed this crucial step.
Be Careful with Your Finances
Once you have that pre-approval letter in hand, don’t change your financial situation by opening new lines of credit. Wait until after your home purchase to buy that new furniture or that shiny, new car. New loans can invalidate your pre-approval, lead to closing delays, and sometimes stop a sale completely.
The very busy market in the Metro Atlanta area may seem intimidating, but with the right assistance, you'll find your home in record time. Call Peggy Slappey Properties at 770-271-5555 or visit www.psponline.com to start your home search today and connect with a qualified agent in your area.
Peggy Slappey Properties, Inc. is a Metro Atlanta real estate brokerage with 38 years of experience in real estate sales and marketing. From new home construction to resales, we can help you find the home of your dreams. To see our current listings, visit www.psponline.com and call us for expert advice at 770-271-5555. Keep up to date with the latest PSP events and offers by checking in on Facebook at https://www.facebook.com/peggyslappeyproperties and on Twitter at https://twitter.com/psponline.