Winning as a buyer in today’s real estate market
Video Transcript below for those that are hearing impaired (or for those who just don’t want to watch a video)
Hello everyone my name is Richard Fournier and I am a real estate agent with The Fournier Experience Real Estate Team.
Some of you I know in person and some of you I am trying to get to know.
I get so many inquiries about what is happening with the Simcoe Real Estate Market that I thought I would shoot a quick video so that you could get to know me a little better and for those of you who hate reading, you can watch a video!
So the markets are very strong in Southern Ontario and all the way up here into Simcoe County. It is strong for a variety of reasons. Low interest rates, massive amounts of migration, low housing inventory all over Ontario, high prices in the GTA. You name it, there are SO many factors supporting being a seller in this market.
Multiple offers are still everywhere especially in the $300,000-$500,000 price point area. So here are 3 major recommendations if you are currently buying a property.
Number 1: Get a local real estate professional to work with you and guide you through this minefield. You can’t do it alone because the market is to fast. If you are working with an out of town agent, tell them to get lost and refer the deal to someone who knows the market. If they don’t, they are unprofessional. It should require no explanation.
Number 2: Get to the property within the first hr of listing and if you like it, don’t think….put in an offer. If the offer says 24 hrs irrevocable, who cares put one in anyway. As a buyer you have to bully your way in and make it hard for the seller to say no.
Now I know some of you are saying “well I don’t want to work like that, and I am going to wait and it’s going to be on my terms”. Well I say good luck with that. The seller currently remains firmly in control as long as they have listed the property at or near market value.
Number 3: Have mortgage commitment papers in your hand before you even start looking or make an offer. Don’t mess around. Just because you have a verbal approval on your mortgage financing it doesn’t matter. The only thing that matters in this market is paperwork. So get all of your particulars like your notice of assessment, T4s, pay stubs, job letters, etc to your mortgage broker before you make an offer.
At the end of the day, Barrie and the surrounding area are fantastic places to live and work. If you have not committed to anyone and you want to work with a team that is firmly committed to an outstanding experience for you, then reach out to us. We work for you, period.
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