With inventory already low and demand high, MarketWatch Jacob Passy writes that this spring buying season is going to be one of the most competitive in recent memory.
Experts says that potential buyers should have their finances in order and a solid idea of the type of home their looking for before their search process begins in earnest. Buyers won’t have time to rest on the laurels in today’s market — and that means they need to hit the ground running. The typical listing on Realtor.com now sells 8% faster than it did a year ago, said Danielle Hale, chief economist at Realtor.com.
Consequently, indecision can easily jeopardize a home buyer’s success in securing a purchase. “A lot of buyers getting into the market for the first time don’t know the difference between a Craftsman, a Cape Cod and a Colonial-style house,” said Rick Sharga, executive vice president at Carrington Mortgage Holdings, a real estate company in Aliso Viejo, Calif. “Understand what house you want to get and what amenities you’re interested in.”
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