There are fewer Columbus homes on the market today than there were during this point in 2012. According to industry data, the home inventory for Columbus is down by about 33.5%, while buyer demand has increased.
The Columbus Board of REALTORS® reports that home inventories have not been this lean since the summer of 2002!
In a competitive market, home buyers face distinct risks: paying too much for a home, or losing the bid on the home they would like to buy.
How can you make your purchase offer stand out while sticking to your budget? We have a few suggestions for you!
Add Clout to Your Purchase Offer with a Loan Approval Letter
Being pre-qualified for your mortgage used to get your toe in the door. But the strongest statement about your ability to purchase is shown through an actual approval letter from your lender. This would be issued by the lender after all loan paperwork has been completed and submitted, and then approved by a mortgage underwriter.
One catch: the loan approval would be contingent on the home appraisal meeting the necessary guidelines.
We can refer you to local, reputable lenders who will help you with your mortgage approval! If you are just starting your home buying research, please also review our Glossary that defines industry terms you will want to understand.
Know the Local Columbus Real Estate Markets
Market conditions vary widely from one neighborhood to another. You may feel a sense of urgency after reading news headlines about a hot market – but all real estate is local, and there are many different degrees of hot and cold! We will help you look at factors such as recent sales prices in the neighborhood, and the amount of time homes have been spending on the market. You must compare apples to apples before you have a basis for your purchase offer.
Work with an Exclusive Buyer’s Agent
An Exclusive Buyer’s Agent protects your interests in the home purchase transaction. We counsel you about price, contingencies, market conditions and more. We also provide a high level of professionalism that ensures good business conduct with seller agents, so that you are held in the best possible light.
When you are ready to prepare an offer, we make sure that all documentation is complete and clear. Details count!
At Buyer’s Resource Realty Services, we exclusively represent Columbus home buyers and protect their interests. From consultation to closing, we will be with you every step of the way! We invite you to get started now and download our free e-book for a wealth of home buying tips and strategies!
Contact us for help with your home buying questions!
Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
