RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

How-to Buy a Home in a Tight Market

May 18, 2017 1:15 am

We all know the equation: low inventory means higher prices. Also known as a tight market, this setting can be stressful for buyers, who are trying to snap up their dream home but keep running into competition. According to the National Association of REALTORS® , attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming.

To help buyers successfully get through the buying process in a tight inventory market, NAR offers these five suggestions:

Determine and stick to a budget. Before beginning the house hunting process, prospective homebuyers should receive preapproval from one or more lenders to verify the amount of money they are qualified to borrow. Then, after taking into account additional costs of ownership such as taxes, utilities and insurance, buyers should determine a final budget they can comfortably afford. When listings are scarce, bidding wars can drive up prices, so buyers must be prepared to walk away if the asking price surpasses their budget.

Identify desired neighborhoods and home wants versus needs. When housing inventory is tight, buyers may need to compromise on what they believe they want from a home. Certain wants, such as stainless appliances or hardwood floors, can be added later. However, if a buyer wants to be in a specific school district or have a decent sized backyard, those cannot be addressed later and must be taken into account during the house hunting process.

Be ready to make a decision quickly. In a seller's market, homes rarely stay on the market long, so when a house that is in their budget and checks off all of their needs come along, buyers should not hesitate. Buyers should be ready to submit an offer quickly, or they may risk missing out on the home altogether.

Bid competitively and limit contingencies. It is tempting to submit a low offer as a starting bid, but in a seller's market buyers need to put forward their highest offer from the very beginning or they are likely to lose out on the home. It is also important to remember that in multiple bidding situations it is not always the highest offer that is most attractive to the seller but the one with the fewest contingencies. Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller.

Work with a Realtor®. All real estate is local, so it is important to work with an agent who is a Realtor®, a member of the National Association of Realtors®, and who is familiar with the areas and neighborhoods the homebuyers are considering. Realtors® are the most trusted resource for real estate information and have unparalleled knowledge of their communities; they can give buyers the competitive advantage needed in a tight market.  

Source: www.nar.realtor.

Published with permission from RISMedia.


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How to Battle Back Pain

May 18, 2017 1:15 am

Those of us that sit at our desks all day likely suffer from back pain. To help promote the proper posture and avoid a slew of sitting-related issues, www.blitzresults.com offers the following tips.  

- Place your computer monitor at least one arm's length away. If it's too close, you will create tension in your shoulders and neck.
- The monitor should be set so that your eyes are at a downward angle. This helps to relieve strain on your neck and your eyes.
- Sit with the pelvis tilted slightly forwards. Ergonomic chairs and seat cushions help to retain the backs' natural posture, providing relief to the discs and muscles.
- Move around the office! Speak personally with your colleagues instead of sending them emails. Drink a lot of water: it's not only healthy, but it will keep you moving.
- Important: Adjust the desk and chair to your height so that you are relaxed while sitting. How does that work? Use an online calculator for ergonomic sitting.

Source: https://www.blitzresults.com/en/ergonomic/

 

Published with permission from RISMedia.


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