The Real Estate Market in Alpena, Michigan
What a wonderful part of this great county to live in. The last few days have been all sun, highs in the 80’s, the 4th of July is upon us, Strawberries are being picked (I will tell you, you never had a strawberry til you ate one grown fresh in Alpena), Lake Huron is primed for swimming and fishing, everything is great!
However, if you are looking for a new home, you better be prepared to act fast. Make sure you have a pre-approval letter from the bank in hand or other financial proof that you can afford to buy. Sellers are getting multiple offers, often the day the listing hits the MLS. Competition is strong and you need to impress the seller, and let them know the deal will go to closing fast and without any problems.
Other things to think about when buying in a sellers market:
Don’t wait for the weekend to see the home, it may be gone by then.
Price is not the most important factor. Realize you may need to offer full asking price or more.
Earnest Money Deposit. A larger earnest money deposit might look very attractive to a seller. Ask your agent for advice on the deposit; then consider doubling or tripling that amount. You're going to pay it anyway at closing.
Don't Request Favors. This is not the time to ask the seller to give you the refrigerator or washer and dryer, or part with fixtures, or paint the front door.
Delay Buyers Possession. If it is customary for the seller to move at closing, give the seller a few extra days to move. Another buyer probably won't think of this maneuver, and the seller will look more kindly upon an offer that lets them move at leisure
If you have been thinking to sell, this may be a great time to do so. There are few homes on the market making it easier to get the deal you want. If you are looking to buy don’t get discouraged, you may have to work harder and smarter, but the market is always changing and that perfect home will come up, just be ready for when it does.