3 Tips for Buyers to Compete in This Market

My hot listing on Meridian: 6 offers in 2 days with 1 winner in escrow

The rate on a 30-year mortgage just hit a record low to 3.49%.
Just 4 months ago, L.A. was in a recession and the real estate market was flat — until now. If you haven’t noticed, it’s been a crazy summer for real estate. Inventory is tight, buyers hit open houses in droves and offers go into the multiples.
So how do buyers compete when an exceptional property (priced well, looks great) hits the market? After you’ve secured an awesome real estate agent, follow these 3 tips:
– Make sure your loan pre-approval is set – you can’t do a darn thing if it isn’t
– Sellers want the best price AND terms – 17 day inspections won’t cut it
– Finally, that great asking price – it’s just a starting point
Ultimately your success in this market greatly depends on the quality, responsiveness and reputation of your agent. Want an agent who’s whip-smart, top-notch AND can recommend the best Thai boat or pupusas for lunch? Let me know.

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