Right now, in almost all markets across the county, inventory is very low, demand is high, and home prices are rising. In our local market, many buyers are bidding over the asking price. In a real estate environment like this, it may seem nearly impossible for a good deal – but it can be done. Read on to discovers some tips on how to find the best deals on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas.
Look at Listings with High Days on the Market and Price Reductions
One effective strategy for finding great deals on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas is to have your agent send you MLS homes with high days on the market and/or have had price reductions. The number of days on the market and the pricing history can lead you to a good deal.
Conventional wisdom has it that if a home sits on the market for any length of time, there’s probably something wrong with it. But that’s not always the case. In some cases the home was just overpriced, and that’s why it hasn’t sold. Usually, you’ll be able to know that this is the reason for the many days on the market if the home’s price has been reduced.
When homes have been reduced or accumulated many days on the market. You can come in and make an offer without having to worry about other buyers bidding against you and have the opportunity to negotiate a fair price.
In the Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas area we can assist you with this and also help you determine whether the home has in fact been languishing on the market because it has flaws or was just overpriced. To learn more, just call 917-608-7277.
Consider As-Is Sales
As-is sales are another possibility for deals on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas. You can look at listings to see if a home is being sold as-is. Often listing agents will mention this in the listing description.
Now it’s true that homes selling as-is are priced according to the current condition and will usually need some repairs and possibly updates. But that also means you can buy them at a good price because they aren’t move-in ready. You would look at homes at a lower price point so that you can renovate them and stay within your budget when it’s complete.
Many times these are inherited properties and the owners aren’t able to make the repairs before listing and need to sell quickly. You just have to decide how much time and money you want to invest. These homes will run the gambit from needing a complete overhaul to just needing some cosmetic updates.
If you’re considering an as-is inherited property, you do need to make sure it has cleared probate, and you’ll want to get a thorough inspection. If you’re not sure how to proceed in the Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas area call us at 917-608-7277.
Buy During the Off-Season
Another way to get great deals on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas is by buying in the off-season. Spring and early summer are the peak real seasons. If you take the typical course – starting your house-hunting in March and closing in June – you’ll have a lot of competition and will likely pay a higher price.
If, however, you start house hunting in, for instance, November and close in, say, February, competition will be less and you may have an opportunity to negotiate on price or other terms that you prefer.
Finding the right home in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas can be challenging but patience and the right agent can help in off-season or at the peak of the market.
Take Your Time
And be sure to take your time. Haste may cause you to pay more than you have to on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas.
According to one industry pro, “when I’ve had clients make real estate deals they’ve regretted, they’ve almost always coincided with time pressure . . . You almost always overpay relative to what you would have paid if you were on a more cautious timeline.”
If you’re just moving to Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas, you might even consider renting for a while so that you can shop carefully and unhurriedly. “While it might seem like a waste to pay rent when you could be building equity, the amount you overpay due to a hasty purchase – or the cost of having to move again after buying a house that doesn’t meet your needs – could dwarf the cost of a few months’ rent.”
Use the Right Agent
A final important ingredient in finding the best deals is making sure you use the right real estate agent. You need an agent whose goals and incentives align with yours and who isn’t simply interested in closing as soon as possible in order to move on to the next client and commission.
If you truly want to find the best deals on homes for sale in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas, then contact us today at 917-608-7277.