Six Steps for Buyers Competing in a Tight Market

Here are some good tips excerpted from an article on downpaymentresource.com.

These six ideas can help you (finally!) score a home of your own.
1. Get your down payment in order.
...Get your home financing plan together so you can act quickly when the right home becomes available.

2. Get your homebuyer education.
...Data shows that homebuyer education and counseling builds successful long term homeowners.

3. Get pre-approved – and shop your loan.
Get pre-approved by your lender of choice — in a fast market, you need more than just pre-qualification. You need to show that you are actually approved for a home loan.

4. Contact a real estate agent.
Buying a home is one of the biggest financial decisions you’ll ever make. You need to be sure you have a good team on your side.

5. Use technology to keep up with inventory.
Technology is your friend — automate that home search. Talk to your agent about setting up alerts so you know as soon as a listing is online.

6. Pack some flexibility.
If you’re a first-time homebuyer, it may be harder to compete against multiple offers in a fast moving market.

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