How to Get Your Dream House in Today’s Market
Today’s housing market is definitely a seller’s market, so how are buyers supposed to find a home that suits them without settling? We wanted to talk to a top realtor in the area about how to find your dream house in today’s market. Amy Stockberger from Amy Stockberger Real Estate spoke with us about navigating the current market.
Q. What steps would you recommend buyers take in this housing market?
Answer from Amy Stockberger:
The beginning of 2022 brought more of the same for the inventory of homes on the market, which remains at a historic low. Low inventory levels have caused real estate transactions to be handled very differently from in the past. Now more than ever, it is vital to be working with a full-service real estate brokerage that is immersed daily in the ever-dynamic ways offers are being won. There is one thing for certain: This isn’t your grandpa’s or even your dad’s real estate market.
Buyers and sellers alike encounter an innate amount of risk in a real estate transaction. There are humans on each side of the transaction, each with different goals. With far more buyers than sellers, homeowners are selling their properties at levels far above market in a majority of price ranges with multiple offers as the norm. Amy Stockberger Real Estate excels in negotiating multiple offers, not only securing the highest dollar but also mitigating as much risk as possible. Our system-centric process for collecting and presenting those offers to our sellers allows them to gain an immense understanding of their options. We go over the risk and reward that comes with each offer as well as the leverage points we recommend to exceed their goals. One wrong turn or oversight could cost the seller thousands of dollars and slow the intensity of the buyer’s desire, resulting in lost dollars and fewer options for risk mitigation.
Q. What are realistic expectations for buying a home right now?
Answer from Amy Stockberger:
You need an expert to guide you through the home-buying process from beginning to end so you understand what to expect. The market is very dynamic and requires expert levels of knowledge from living and breathing in the market day in and day out.
Q. What are the financial basics to know when it comes to buying a home?
Answer from Amy Stockberger:
Buyers need to know what their home buying power looks like right away. This not only helps them exercise their consumer muscle as much as possible but is also imperative to have a seller even consider their offer. All offers without a lender letter are not even considered in our market. Also, all indicators are pointing to mortgage rates moving up. Higher mortgage rates equal less buying power. That coupled with rising home prices, makes right now the perfect time to buy.
Q. Have virtual tours affected the seller’s market at all?
Answer from Amy Stockberger:
Not at all. Consumers love to gobble up as much info on homes as they can. HGTV would not have the success it has if that was not true. While in-person showings are often more desirable a virtual showing is something that has been happening before the pandemic. We live in an amazing technology time that makes this so easy.
Q. How long would you estimate the buying process to take right now?
Answer from Amy Stockberger:
That is all determined by price, area, and inventory. Before inventory levels dropped in 2020, the average buyer would look at approximately 12 homes prior to making an offer. We live in a different world now which is why it is critical to work with an experienced brokerage that can sit down and explain the process to adjust your expectation based on your parameters.
Q. How would you help your clients find their dream home in today’s market?
Answer from Amy Stockberger:
You need someone who lives in the market each day, who has a pulse on the ever-dynamic flow of not only pricing your home correctly but negotiating it to get you to the closing table. The same applies to competing as a buyer right now. You need a brokerage that is using every tool it has to win a multiple offer game for you.
Real estate will always be a relationship-based industry, and that is another way in which Amy Stockberger Real Estate excels; our client-centric approach ensures we treat each client’s goals like they are our own and ensure that we are of service before, during, and after the real estate transaction. It’s how we’ve created clients for life for years and continue to do so.
Q. What are some tips you give to your clients looking for their dream home right now?
Answer from Amy Stockberger:
This is the lowest amount of inventory our area has ever seen, which makes it even more imperative to align yourself with an experienced Realtor who not only specializes in connecting buyers and sellers but has out-of-the-box strategies to find you homes on the market and off the market. You need a Realtor who can expertly assist you in arriving at a price to buy and/or sell that doesn’t leave money on or off the table, offer bold marketing, a proven track record of success in negotiating, and have systems for repeatable excellence in tracking the myriad of moving parts.
If you have any questions regarding a reasonable budget for you and your family, give us a call at 605.338.2533. And for all of your real estate needs, contact Amy Stockberger Real Estate at 605-340-1933. The housing market might be a difficult one right now, but partnering with the right companies who have the knowledge and resources can be crucial to finding your dream home in today’s market.
