Salina, Kansas is right in the middle of a “SELLER’S MARKET,” especially if you are in the market for a home in the range of $125,000 to $200,000.Many homes in that price range, are selling within the FIRST TWO DAYS! Some are even getting MULTIPLE OFFERS. The reason: LOW INVENTORY! Generally, when families are looking for a larger home, they plan on spending at least $50,000 to $60,000 more than the value of their current home. There is also a lower inventory of homes valued between $200,000 and $280,000, although this price range is not as dire as first one I mentioned. Most people are hesitant to step out in faith, and list their home, without a reasonable chance of finding a different home that gives them the amenities they seek.
SO, WHAT CAN BE DONE?I recommend you follow this ten-step approach that I utilize with my buyers.
#1.Get yourself a real estate agent to serve as your buyer’s agent.
#2.Discuss your needs/wants with your agent and come up with a game plan.
#3.Get pre-approved through one of our local lenders. Call me if you need a recommendation.
#4.Establish a budget range and a location preference.
#5.Visit 4 to 6 homes and give feedback to your agent about what you like/dislike.
#6.Your agent can then facilitate “real-time notifications” from our local Multiple Listing Service. That means, the moment a new listing in your preferred price range and location becomes available, you will get an email.
#7.Discuss the situation with your employer and ask for some “flex” time, so that you can visit a new home as soon as it becomes available. A visit usually takes less than thirty to forty-five minutes. I recommend you don’t wait until late in the day, because it may be too late.
#8.If the home meets all or most of you needs, talk to your agent about making an immediate offer.
#9.In the event your agent becomes aware that multiple offers are coming in, expect to offer between 1% and 4% over the asking price, assuming you REALLY LIKE the home.
#10.If you feel like this whole process is moving way too fast for you, don’t have an anxiety attack! That is why you have an agent. Please be reassured that there are still two built in safeguards: the home must appraise or you can back out, and the home inspection period gives you an opportunity to inspect the home in significant detail.
In summary, you need an experienced buyer’s agent to navigate these waters, looking out for your best interests. I have three or four additional strategies that normally help buyers come out with the home they really want! However, you will have to call me first at 785-822-7341, because I only share those tips with my clients.