Summer 2018 Homebuying Tips

Summer 2018
Homebuying Tips
H T T P S : / / W W W . T R U L I A . C O M

Don’t discount older listings.
When homes are flying off the market within days, it’s
easy to think a listing that’s a week or so old is a red flag.
Minneapolis real estate agent Danny Dietl says that’s not
always the case. In his experience, it’s often because a
buyer got cold feet and pulled out of a deal on a perfectly
good house. But thanks to the assumptions people make
about older listings in busy markets, the delay can cause
the price to come down.
Consider a fixer-upper.
In a competitive market, it’s important to be flexible.
That could mean going with a fixer-upper, even if you
were imagining a move-in ready dream home. There are
just more of them out there: The number of starter
homes on the market is shrinking, but there are 8.3
percent more fixer-uppers among them than there were
six years ago.
If you’re dead-set against a fixer-upper, Dietl says to be
prepared to move quickly. “There’s only ever going to be
a couple of options at a time,” he says. “And when new
listings come on, it’s going to be pretty ferocious.”
Get to know the neighborhood.
In competitive markets, it’s tempting to make an offer on
any available property that fits your criteria, but if it’s in
the wrong neighborhood, you may never end up feeling
at home in your house.
Take the time to do some community scouting before
making an offer. You might notice convenient parks and
new playmates for your kids—or be relieved to find more
nightclubs than strollers on your block. You can even
find out what your future neighbors have to say about
the area with the new What Locals Say feature on listings
throughout Trulia.

Make the strongest offer—even if it’s not the highest.
Obviously, now is not the time for low-ball offers. But the strongest offer isn’t always the
highest one. Dietl says cash offers are often the secret to a winning bid. “You can even actually
be the highest offer by thousands of dollars, and a cash offer may take precedence,” he says.
Sure, coming up with a cash offer could be tough for many buyers. But there are other ways to
make a strong offer that don’t require gobs of money: Including generous contingencies, like a
shorter closing or inspection period, and writing a great offer letter can help make your offer
stand out.
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