2013 Is the Year for Competitive House Buying

A recent article by Andrea Coombes in the Wall Street Journal says that lately, the housing market has been a competitive place for home buyers.With bidding wars, buyers willing to pay cash, and the tendency for buyers to go over their budgets to get what they want, it's difficult to be a polite buyer and still get what you want.

Coombes says "The number of homes for sale fell to a 13-year low in January, leaving would-be buyers chasing a shrinking supply of homes just before the spring selling season". A 6 month supply of homes for sale is normal [meaning it would take 6 months to sell off the inventory at the current pace], but currently, there is about a 4.8 month supply. This means that competition for the attractive properties is fierce.

Thankfully, there are strategies to help the process go smoother. There are tips such as staying calm, not spending more than you can actually afford, bringing a large down payment, being nice to the seller, and lastly, finding a good realtor. This is where the Nothnagle Home Team comes in. If you're interested in buying [or selling] a home this spring, call or e-mail the Nothngale Home Team today.