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Making It Easier to Gain the Edge in a Tight Inventory Market

If you feel like there are fewer homes on the market in Chicagoland, you're right. You might also be wondering how you, as a buyer or seller, can find success in this new normal of low inventory.

First, remember that there is a home out there for everyone, so let me make the process of finding the right buyer or seller for your new home easier for you in this tight market. Let's start with the following tips to keep things in perspective:

For Sellers

The Price is Right
It's easy to feel overconfident when there's a short supply of homes on the market, but I can't stress enough how none of that matters if you don't set the right asking price. Overpricing can often backfire and lead to fewer offers — especially if the appraisal doesn't meet the value — so let's work together to strike the perfect balance of maximizing your asking price while keeping it within reach of your target buyer.

How to Handle Multiple Offers with Finesse
Fielding multiple offers can be a good thing if it's handled in the right way. That's where I can help. I know how to navigate multiple offer scenarios in order to find the right buyer at the right price to avoid potential price-war fallout. And I can work with you to make buyers feel confident that they have made the right purchase.

For Buyers

Act Like a Boy Scout and Be Prepared
With more buyers than sellers on the market, it's never been more important to line up your financing in advance so you can make a strong offer. If a new listing comes online, you want to be ready to pounce. This means getting preapproved if this is your first home, or speaking to a financial advisor to help figure out what you can afford. I can also put you in touch with a mortgage expert to increase your odds of success.

Set Up a Winning Offer
One of the smartest strategies in a tight inventory is to determine how high you're willing to bid on a home. For example, if I have clear direction that it's okay to offer $3,000 more during negotiations without waiting for you to sign off, it can save time and help your offer rise to the top. On that note, it can be easy to get caught up in a bidding war only to have remorse later. So let's work together to find a number you're comfortable with, and one that's strong enough to win you the house.

Market Stats Report E-card Offers Neighborhood Data Tour
When you're shopping for a home, you're also shopping for a neighborhood. That's where Baird & Warner's Market Stats Report e-card can make it easier for buyers to understand neighborhood housing data at a glance. Our e-card delivers dynamic charts containing information on a specific community, such as the number of properties listed, median prices, and days on market directly to your phone or tablet. Ask me how you can start receiving the Market Stats Report e-card today.

Student Loan Debt? Key Mortgage Can Help You Buy a Home
Millennials may be saddled with more student-loan debt than their parents, but that doesn't mean their dream of homeownership has to be shelved. In fact, independent mortgage companies can actually make buying their first home easier than they think. Esther Phillips, senior vice president of Baird & Warner preferred lender Key Mortgage Services Inc., recently wrote more about the borrowing options available to young homebuyers in the respected industry publication Scotsman Guide. Let me know if you'd like to speak with a Key Mortgage representative and learn more about these options.

Jeff Coros  
Jeff Coros
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