Tips in buying a home in a Competitive Market : 1. Choose a sharp real estate agent. In sports and in business, it's important to have the best players on your team when facing fierce competition. In a seller's market, that means choosing a real estate agent who not only has proven expertise in the neighborhoods you're interested in but is also highly responsive and efficient. 2, Get preapproved. By obtaining preapproval for a mortgage before you start home shopping, you'll know how much buying power you have. Your offer may have far more credibility than competing ones where buyers didn't take this step. 3, Don't be too choosy. When the inventory of homes is limited, you probably can't afford to wait for the perfect house to hit the market. Prepare yourself to adjust your expectations. It makes the most sense to make exceptions to your criteria for things that can be changed. For example, you can add a bathroom someday, but you can't change the home's location or lot size. 4. Consider new construction. You may start your search with an intention of buying an existing home. But you may find that new homes have better pricing or availability. You may have to weigh commute time if the new construction is farther away from your work or other activities. 5. Stay alert. In a buyer's market, you might get away with taking a leisurely approach to your home search. That's not going to work in a seller's market. Keep a constant eye on new listings and set up visits to houses you're interested in as quickly as possible. Be ready to make a quick decision so you can beat competing shoppers. 6. Forget the lowball tactics. In a seller's market, submitting an offer that's well below the asking price is probably going to be a waste of time. Competing buyers often end up bidding above the initial asking price. If you want to be in the game, your bid should be close to if not higher than what the seller's asking. Talk to your real estate agent about the best pricing strategy. 7. Establish price discipline. If competitive bidding breaks out, it's easy to get carried away. If that happens, you may find that you not only get the home but also years of strained budgets and financial stress, too. Before you start shopping, set a firm limit on how much you're willing - and able - to spend. 8. Put away your list of demands. Your relative lack of power in a seller's market doesn't just affect the question of price. It carries over to every other aspect of the deal, too. Think twice before attaching conditions to your offer, such as demands for changes to the home. Likewise, it may be a bad idea to insist on contingency clauses such as your purchase depends on selling your current home first. On the contrary, you should be prepared to accommodate the seller's needs, such as being flexible on the move-in date. 9. Consider waiting. If your situation allows it, you might consider postponing your home purchase until the market cools down. There are some drawbacks to doing this. First, it's hard to predict when a market will shift and, depending on the economy and other factors, it could be years until conditions improve. 10. Finally, don't get carried away with the pressure to buy, even in a seller's market. Remember that a home decision has a long-term impact on your financial future. It may be better to let a house go than make a poor decision that's expensive to change.
The price are not including the upgrades. Most of the time, the builder will give standard features and up to the buyer to upgrades. The model homes are always full of upgrades.
KB has great quality too. You will be surprised on the quality of the home they build nowadays. They build it cheaper to make it affordable and this one in Citrus Heights is very appealing. Let me know if you have any other questions.
Tips in buying a home in a Competitive Market :
1. Choose a sharp real estate agent. In sports and in business, it's important to have the best players on your team when facing fierce competition. In a seller's market, that means choosing a real estate agent who not only has proven expertise in the neighborhoods you're interested in but is also highly responsive and efficient.
2, Get preapproved. By obtaining preapproval for a mortgage before you start home shopping, you'll know how much buying power you have. Your offer may have far more credibility than competing ones where buyers didn't take this step.
3, Don't be too choosy. When the inventory of homes is limited, you probably can't afford to wait for the perfect house to hit the market. Prepare yourself to adjust your expectations. It makes the most sense to make exceptions to your criteria for things that can be changed. For example, you can add a bathroom someday, but you can't change the home's location or lot size.
4. Consider new construction. You may start your search with an intention of buying an existing home. But you may find that new homes have better pricing or availability. You may have to weigh commute time if the new construction is farther away from your work or other activities.
5. Stay alert. In a buyer's market, you might get away with taking a leisurely approach to your home search. That's not going to work in a seller's market. Keep a constant eye on new listings and set up visits to houses you're interested in as quickly as possible. Be ready to make a quick decision so you can beat competing shoppers.
6. Forget the lowball tactics. In a seller's market, submitting an offer that's well below the asking price is probably going to be a waste of time. Competing buyers often end up bidding above the initial asking price. If you want to be in the game, your bid should be close to if not higher than what the seller's asking. Talk to your real estate agent about the best pricing strategy.
7. Establish price discipline. If competitive bidding breaks out, it's easy to get carried away. If that happens, you may find that you not only get the home but also years of strained budgets and financial stress, too. Before you start shopping, set a firm limit on how much you're willing - and able - to spend.
8. Put away your list of demands. Your relative lack of power in a seller's market doesn't just affect the question of price. It carries over to every other aspect of the deal, too. Think twice before attaching conditions to your offer, such as demands for changes to the home. Likewise, it may be a bad idea to insist on contingency clauses such as your purchase depends on selling your current home first. On the contrary, you should be prepared to accommodate the seller's needs, such as being flexible on the move-in date.
9. Consider waiting. If your situation allows it, you might consider postponing your home purchase until the market cools down. There are some drawbacks to doing this. First, it's hard to predict when a market will shift and, depending on the economy and other factors, it could be years until conditions improve.
10. Finally, don't get carried away with the pressure to buy, even in a seller's market. Remember that a home decision has a long-term impact on your financial future. It may be better to let a house go than make a poor decision that's expensive to change.
Just wonder! $604,415 is the price for an upgrade house shown here or the base price without any upgrade?
The price are not including the upgrades.
Most of the time, the builder will give standard features and up to the buyer to upgrades.
The model homes are always full of upgrades.
I love it 🥰
Thanks for watching and your support. Let me know if there's any other questions
Nice house, but isn’t KB one of the worst builders out there in terms of build quality?
KB has great quality too. You will be surprised on the quality of the home they build nowadays. They build it cheaper to make it affordable and this one in Citrus Heights is very appealing. Let me know if you have any other questions.