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5 things buyers need to know when making an offer

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5 Things Homebuyers Need To Know When Making an Offer

When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things buyers need to know when getting ready to make an offer.

1. Know Your Numbers

Having a complete understanding of your budget and how much house you can afford is essential. That’s why you should connect with a lender to get pre-approved for a loan early in the home buying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war. Besides, you can’t make an offer with being pre-qualified.

2. Brace for a Fast Pace

Today’s market is dynamic and fast-paced. According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days – that means from start to finish, a house for sale in today’s climate is active for roughly 2.5 weeks. A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as you find the right home for your needs, that agent will help you draft and submit your best offer as quickly as possible.Continue Reading

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Infographic: Rent vs. Own

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Owning a home has distinct financial benefits over renting. When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation. On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation.

Owning a Home Has Distinct Financial Benefits Over Renting

If you’re feeling the challenges of a competitive market, remember that homeownership is a long-term game. Persevering today will lead to financial rewards in the future.

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Home price appreciation: As simple as supply and demand

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Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

Let’s use three maps to show how this theory continues to affect the residential real estate market.

Map #1 – State-by-state price appreciation reported by the Federal Housing Finance Agency (FHFA) for the first quarter of 2021 compared to the first quarter of 2020:

As the map shows, certain states (colored in red) have appreciated well above the national average of 12.6%.Continue Reading

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Infographic: Should I buy now or wait?

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If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again. Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates. Buying a home now means you’ll spend less in the long run.

INFOGRAPHIC: Should I buy now or wait?

Let’s connect to put your home buying plans in motion before home prices and mortgage rates climb even higher.

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Mortgage rates by decade

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Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.

Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.

Mortgage rates by decade

If you’re in a position to buy a home, let’s connect to determine your best move in today’s housing market while interest rates are still in your favor.

Let’s connect to determine the best way to position you for a financially-savvy move in today’s market.

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Infographic: Is now the right time to sell?

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If you’re on the fence about selling your house, now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition. With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your house may really stand out from the crowd.

s Right Now the Right Time to Sell your house?

Let’s connect today to get your listing process underway.

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Infographic:
Winning as a Buyer in a Sellers’ Market

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Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle. Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers:

Winning as a Buyer in a Sellers’ Market

Let’s connect to make sure you’re armed for victory in the housing market this season.

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A new way to shop for homes in a virtual world

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A New Way to Shop for Homes in a Virtual World

In a year when we’re learning to do so much remotely, home buying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live.

This year, rather than delaying their home purchases, buyers – alongside their trusted real estate professionals – turned to the internet to do more than just a typical home search. In some cases, they bought homes without even stepping foot inside. In fact, one in every 20 homebuyers purchased a house sight-unseen during the coronavirus pandemic, according to the National Association of Realtors (NAR).

“People really didn’t buy houses sight-unseen, traditionally. It’s still not a huge number, but it has gone up, and we have definitely seen that trend accelerate.” says Jessica Lautz, Vice President of Demographics and Behavioral Insights at the NAR.

Today, digital practices help homebuyers and sellers walk through many steps in the process virtually. While following the regulations set forth by the CDC and all local guidelines, this year, agents quickly empowered buyers and sellers with virtual tours, floor plans, high-quality photos, videos, online open houses, and more.

And in true 2020 fashion, virtual practices helped buyers safely narrow down their top choices, so they didn’t have to unnecessarily walk into more homes than they needed to see throughout the process. At a time when health and safety are top priorities, current technology is making it possible for buyers and sellers to move their real estate plans forward at their own comfort levels, even through a worldwide pandemic.

For many, this means buyers no longer have to physically tour every home they want to see, and sellers don’t need to open their doors over and over again throughout the process. Safety can come first, and trusted real estate professionals are here to help.

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Don’t let buyer competition keep you from purchasing a home

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Don’t Let Buyer Competition Keep You from Purchasing a Home

Record-low mortgage rates in 2020 have sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why:

According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB): “The length of time spent searching for a home continues to grow.”

The report indicates that 62 percent of buyers now spend three months or more looking for a home, an increase from 58 percent one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home.

Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again.

Compared to this time last year, the NAHB report shows that buyers are having more success finding homes in their price range. However, it also notes the percentage of buyers saying they’re getting outbid when they make an offer has jumped from 15 percent to 27 percent. Buyers are indicating that bidding wars are a major obstacle to finding their next home.

If this is a challenge you’re up against in your home search, you’re not alone. Feeling stuck in the process can be frustrating, but if there’s ever been a year to power through, this is the one. Experts anticipate home prices will continue to rise into 2021, and the incredibly low interest rates we’ve seen this year are also forecasted to increase as the economy strengthens. Hopeful homebuyers who decide to hold off on their search until there’s less competition run the risk of finding a more expensive housing market when they start looking again.

If affordability is a key motivator behind your decision to buy a home, this winter is still the best time to make it happen.

Filed Under: Tips for Home Buyers

Is it safe to sell my house right now?

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Is it safe to sell my house right now?

In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms.

Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. Here are the top three reasons homeowners who are thinking of selling sometime in the next three years are not putting their houses on the market right now:

34% – Life is too uncertain right now
31% – Financial uncertainty
25% – COVID-19 health concerns

If you identify with any of these, you’re not alone. Whether it’s the future of your employment situation or simply being uncomfortable having guests in your home for showings, life feels a lot different than it did at this time last year.

The good news is, real estate professionals have spent the majority of 2020 figuring out how to sell homes safely, and it’s paying off for those who are choosing to move this year. In fact, experienced agents such as myself are doing two things very well to make selling your house possible:Continue Reading

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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and Quail Creek resident. Whether you’re buying or selling a home in Quail Creek, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ