If you are a prospective homebuyer in the Portland housing market then I don’t need to tell you how competitive it is. The most recent Case-Shiller Home price Index showed that Portland leads the nation in year-over-year home price appreciation and a separate study released by United Van Lines showed that we lead the nation in attracting new residents.
The impact in our housing market is that there is very strong demand and not enough supply to accommodate it. These conditions will likely evolve over time but for now it is making it hard for homebuyers to compete.
I will be writing a series of posts that will outline strategies a prospective homebuyer can do to optimize their chances in having their offer accepted by a seller.
Here are the topics I will be covering:
- Completing & Communicating a comprehensive pre-approval
- Know your limits
- Accommodate the sellers’ timeline
- Eliminating a home sale contingency
- Buy the home then do the mortgage
- Avoid FHA & VA
- Let the lender pay your closing costs
Do you have any ideas for getting your offer accepted? Please comment below.