Once you’re in the market to buy a home, you’re going to notice every little thing you hear about the housing market.
It could be on the TV, a headline or article online, friends, family, coworkers — everyone has an opinion on how the real estate market is doing. The problem is, most of what you hear is based upon national data, trends, and statistics. Even if it’s “local” insight, it’s often still too broad and general.
Real estate markets are very localized. They vary between towns and cities, and from one neighborhood or price range to the next. But, to put it simply, in the Green Valley area, it’s mostly a “sellers market” due to relatively low inventory, short times on market, and oftentimes, multiple offer situations. But even that’s a fairly broad way of looking at market conditions.
When you’re ready to start shopping for a home, you and I will speak more in depth about the current market conditions specific to the price range and neighborhood(s) you’re focusing on, and consider the key factors necessary to determine what to offer.
Bottom line: Don’t base your mindset or decisions on what you casually hear from day to day.
That said, one of the most common mistakes buyers make is letting a great home slip away. Great homes aren’t a dime a dozen. And when you find one you like, the best thing to do is make an offer.
Obviously, you don’t want to make a hasty decision and regret it. But if you ever feel like you’ll regret not making an offer if a home went under contract to another buyer the next day, you’re better off not hesitating.