Say what? That house we looked at already has an accepted offer? But it was just listed yesterday…I DON’T UNDERSTAND!

Yep, that is what we are hearing time and time again this Spring all across Madison, WI. Sellers are, for the most part, not only getting exactly what they are looking for price wise, but some are getting 2-10% over their asking price. So why is this market so crazy and what can you do to position yourself in this crazy market without feeling like you are getting ripped off? Here’s some of my suggestions…

Look at the list price as merely a suggestion.

By that I mean to say that with the market going a little nuts lately who knows what a Buyer is willing to pay for it? Truly there are people out there who need to find a home so badly that they automatically think, “I will do whatever it takes” This strategy is one of fear and not of logic. If you overpay for a home in 2016 and you do not plan to live in that home for 7-10 years you will more than likely lose a bit of money. FACT. That is why we have an appraisal contingency in our contracts and if you choose to ignore that contingency and pay way more than what the current market value should be, it’s gonna be a long road.

Get pre approved for a mortgage by a real professional.

Do not go on to Lending Tree and enter your information because you will get responses from about a thousand different lenders, most of whom do not even practice in the state and they will hound you! If you go to our Buyer’s Resource page and check out our lenders they are all very nice people whom with we have sold many homes together and we know that you will be satisfied and comfortable with. With this pre approval letter in hand you are not guaranteed to get the home, but you are one step closer and that step is imperative in the process.

If you are looking to sell your home and buy the move up home of your dreams there are some things to think about.

Can you afford to purchase the move up home without the sale of your current home? Meaning, could you hold your current home and pay the monthly costs for 6 months ( worst case scenario) and pay for the new home at the same time? Also, be sure to discuss the process with one of our Listing Specialists so that they can help you navigate the process and the timing. There are key issues to speak about and you will feel that much better once you have done so. Also remember that this is the perfect time to sell and get the most money for your home, but the same is not so true when you go to buy so make sure to talk out all scenarios.

Will the inventory pick up?

It might, but given current interest rates and the demand for housing in the Madison, WI area we may see a lull in 2016. So that means if you are serious about purchasing a home you must and I do mean MUST, start your search 4-6 moths out from your moving date. That way you have plenty of time to find your home, negotiate and procure. You must, and I do mean YOU MUST see the home the day it is listed. This is especially true in the Downtown Madison markets as well as areas close to central Madison. Sellers are accepting offers within 10 hours of them being listed and so if you are serious about seeing a home, get in that day.

Remember that you are purchasing one of the most important investments of your entire life.

Do not rush the decision just because something has come on the market that you are interested in in your search parameters. Make sure that it meets and exceeds all of your expectations. Know what your expectations are and really listen to yourself when you walk in. Is it in the perfect location? Does it have the amount of space you need? Does it have the beds and baths you were looking for and MOST importantly, does it feel like home? If it does then it is meant to be.

So there you have it. I could give you a million more reasons, but these are just a few things on my mind as we start this Spring Market off with a huge bang. As always, if you are looking to buy or sell a home in 2016 make sure to give myself or one of our other experts in the market a call. Did I mention we are in the top 1% of all Realtors in South Central Wisconsin? Yep, we are, because we care about what we do and who we work with.