It’s tough to get a good deal on a house in today’s market. Inventory is low, demand is high, buyer competition is keen, and selling above the asking price isn’t uncommon – all of which means that buyers are currently in a disadvantaged position, But don’t despair. It is possible, despite market conditions, to get a good deal if you deploy the right strategies and choose judiciously. Read on, then, to find out how to ensure you get a great deal on a house in Orlando.
Look for Listings With Some Time on Market and Price Reductions
One proven way to get a great deal on a house in Orlando is by looking for listings with high days on the market and price reductions. If a house has languished on the market and the seller has been reducing the price, you can very likely get a great deal on that house.
Typically, buyers tend to shy away from homes that have been on the market for any length of time. They assume (sometimes justifiably) that something is wrong with them, and that’s why they haven’t sold. But there may another reason that will allow you to get a great deal.
A house may sit on the market for a long time simply because the seller priced it too high. Examining the pricing history, looking to see whether the seller has reduced to price, is a good way to tell if it’s actually a good home that was just priced too high. In this case, you can move in ahead of other buyers and get a good deal.
But you do have to exercise some caution here to make sure you’re not making an offer on a lemon. If you’re not sure how to proceed, consult a Orlando agent at (321) 217-7534.
Pay Attention to Sold As-Is Listings
And pay attention to “sold as-is” homes. This can be another effective way to get a great deal on a house in Orlando.
Usually, homes sold as-is need some work and sell at much lower prices. So if you’re willing to put in a little money and effort renovating, these houses can often be a good deal. But how much work is needed can vary widely. The trick, then, lies in determining just how much you want to invest in fixing up such a property, and whether your investment will actually be worth it.
Buy in the Off-Season
Another tactic for getting a great deal on a house in Orlando or anywhere else is to buy during the off-season.
Traditionally, the hottest season in real estate stretches from spring to early summer. That’s when a lot more buyers are out and making offers on homes. Since competition is keen during this period, your chances of getting a good deal are better at other times when the competition dies down.
Industry pros recommend beginning your home search in November. People at that time are focused on the holidays and not on buying a house. In fact, home buyers who close in February save on average 7.17% on their home purchases.
To find out more about the optimal off-season to buy a house in your market, contact a market_city] agent at (321) 217-7534.
Take Your Time
Just as with any other major purchase, one of the best things you can do to ensure you get a great deal on a house in Orlando is to just take your time home shopping. When is comes to buying a house, haste can indeed make waste.
When you decide to buy, it’s critical that you don’t rush the house-hunting process. Rushing is often a good way to wind up paying more than you want to and making a purchase you’ll regret. Industry pros maintain that buyers who rush almost always overpay in comparison to what they would have paid by taking their time.
And Work With an Experienced Local Agent
These are all important strategies to help you get a great deal on a house. But there remains one more thing to do, and it may be the most important. And that is to work closely with an experienced, local Orlando agent. Your agent will know the local market inside and out and so will know where and how to get those great deals. So when you want to make sure get a great deal on a house in Orlando, be sure to contact us today at (321) 217-7534.