Some people have all the luck. I’ve known a few of them. We go to one house they saw online – we look at 1 or two comparable homes around Seattle, but they knew the first one was the house for them before they even saw it. They put in an offer, it’s accepted the same day, and they move in 30 days later. Sounds great, right?
However, most recent home buyers have house-hunting stories that are on the other side of the spectrum. Year long house hunts, several offers, waiting for short sale responses, bidding wars (yes, there are bidding wars going on), and frustrating hoops to jump through with bank negotiations are all much more typical.
If you’re wondering how long a house hunt typically takes – I won’t make you read too much longer: it’s about 12 weeks according to a study by the National Association of REALTORS (R).
If you’re currently looking for a home and haven’t found one yet, I’ve put together a series of suggestions to help keep the home search on track. Keeping checking back, I’ll be posting my top 5 suggestions on how to prepare (or re-assess) your house hunt:
1. Be Prepared to Act. If you’ve been saving, waiting, watching the market, have 3 different pre-approval letters…then you’re ready to go. Just know that you need to be ready to act quickly once you start looking at homes. In Seattle – homes (especially ones that are priced well or in good condition) can sell very quickly…no matter the market.
I can’t tell you how many times I’ve had buyers want to “sleep on it” before writing an offer – only to lose the house to someone else that loved it just as much as they did (and acted on it!).