During a fast market with low inventory, a seller has the upper hand. Even so, it is still a great time to be buying a Portland home. You can negotiate to get a great price, you just have to be strategic in how you approach things. Competition can be frustrating, however getting in the market now will get you the extra bonus of rising prices making your home worth more than it was when you bought it.
More so now than ever in this Seller’s market, you need to be a strong buyer. Otherwise, you could crumble when faced with negotiating prices or needed repairs.
Three ways to be a strong buyer when buying a Portland home:
- Walk in to any home for sale with a set idea of the value of property in the area up front. This means taking a little time to do your homework. When you know the prices of the area and the trends of asking price to sales price ratios, you can be ready to offer strong. This knowledge also helps you edge out buyers who are reluctant to offer above asking price, not understanding the rewards of an appreciating market.
- Walk into a home for sale with an experienced real estate agent. When you have a professional realtor by your side, you are not alone. You do not have to be self-conscious or even be the ‘strong one.’ Your agent will do all your negotiating for you. You will also benefit from their intimate knowledge of the area and what to look for in a Portland home.
- Walk into any home for sale knowing your needs and price range. Going home shopping without a clear concept of what you want and can afford can lead to emotional decisions. That can be hazardous for your pocketbook too.
If you would like more tips on how to be a strong buyer of Portland homes check out other articles on the Portland Real Estate Blog.