How Inventory Affects the Wasatch Front Market
There are eight things that we feel you can do to compete to get the home you want in the Wasatch market.
- Be informed. If there’s a specific neighborhood, community, or builder you’re interested in, start researching and following them on social media and set up Google alerts. The first line of defense is to know what’s going on so you can act fast.
- Register your name on the internet list. Most of the communities and builders will reach out to those who have interest on their internet lists. You’ll receive news about model homes, property releases, and other updates. If you want to be the first to know, make sure the community or builder knows about you.
- Work with a Realtor. We have the inside track and in many cases will be able to alert you to important news before the public is aware of it.
- Make a friend. It doesn’t hurt to make friends with a sales agent in a community because they’re great resources for details that other people might not be aware of.
- Get pre-approved for a loan. If you’re not pre-approved and you go to buy, you could lose out to someone who is pre-approved.
- Check for financing options through the builder. Sometimes builders will provide incentives for using their lender, like assistance with closing costs or money towards upgrades at the design center.
- Talk to your Realtor about options and upgrades. Model homes will likely be very upgraded and full of options that raise the price beyond the base price of the property. Having an idea of the options and upgrades that you want will be important for you to know upfront to make sure you can qualify for that loan and still be within the payment you’re comfortable with.
- Familiarize yourself with the community and the properties. Intense community interest can cloud judgement and create a frenzy. You never know which line you’ll be in for a home. It could be the home you’re dreaming of, and it’s gone by the time you get to the front of the line! Knowing the community well will help you make an informed choice when the time comes.
“Realtors have the inside track on many new homes.”If you or anyone you know has any real estate questions, email me or give me a call!