Another change in sentiment from Covid is the possibility of people moving from the city and into the suburbs. A recent Harris poll stated about a third of those surveyed are considering moving to the suburbs in light of the pandemic.
Larger lots… more green space… less population density… easier to get to grocery stores… these are essential items for those surveyed considering moving out from the city. Couple this with the my recent post detailing an increased desire for dedicated home office space, we have definite trend changes in home buying due to Covid.
Homes are going fast right now. I’m seeing my clients getting under contract on homes just hitting the market. How does one set their offer apart from such a competitive field. Consider either:
- Making a non-contingent offer. If one qualifies to carry two mortgages, it makes the offer more appealing to the seller when they see the offer to buy their home is not contingent on the sale of the potential buyer’s home.
- Getting pre-underwritten. Using a “TBD” underwrite strategy is great for potential offers. The seller knows the potential buyer’s credit file (credit score, income, assets) has been reviewed and approved. This gives the seller more confidence the potential buyer’s offer will close.
Using either one (or both) of these options can set an offer apart from others in such a crowded market.
The purchase market is definitely hot right now. If you are buying in the state of Georgia, contact me today. We can get you prequalified and on your way to a “TBD” underwrite to help make your offer more competitive and stand out in the crowd.
