John Seggerman has his finger on the pulse of the Northern Virginia, Maryland, and Washington D.C. area's real estate market and has seen a record number of home sales thus far this summer. His advice to those looking to purchase a home in these areas is to be prepared for sales to continue their record pace.
McLean, VA -- (ReleaseWire) -- 08/07/2015 --John Seggerman is a consummate professional in the local real estate market. He often states that he believes "a house is typically the most significant, most complex, and most emotionally challenging purchase an individual or household makes throughout a life time." It is his desire to inform potential buyers interested in purchasing a home in the area over the summer and into fall, the proper procedures to take on a fast-paced market.
Being preapproved for a loan is a great asset to buyers, among other things as it lets them know how much home they can afford. This ensures they do not spend a lot of time looking at houses outside their range, and possibly missing the ideal home. Loan preapproval also shows the seller that the buyer is serious and is not just "browsing." If a buyer is facing a multiple bid situation, as it sometimes does in a seller's market, having a strong loan pre approval could be the tipping point for reaching agreement on a ratified sales contract.
Earnest money talks. Seggerman says the higher amount of earnest money put down when making the initial offer, the better they look on paper to the seller. Earnest money remains in the broker's escrow account until the deal is done. At which point, it will go toward the down payment or closing costs or if the deal falls apart, it will be returned to the buyer.
The location, schools, home size, neighborhood, and other important "must haves" should be fully understood by the agent to ensure that buyers aren't wasting their time looking at properties and houses that don't meet their criteria. It is crucial in a seller's market to be particular, looking only at homes that have all the boxes checked. Seggerman advises that buyers may not get everything they are looking for, but it is often necessary to overlook some of the less important items on the list, in favor of the biggest ones. If a buyer gets 80% of what they want in a home purchase, they've done pretty well.
First time homebuyers, those looking to downsize, new residents relocating to the area, investors, and even those just wishing to find a new home, should all work with a professional when the local real estate market is a fast paced competitive market. A professional like John Seggerman knows the area and has years of professional real estate marketing skills that he puts to work every time a buyer or seller comes to him seeking assistance.
For more information, visit https://www.youtube.com/watch?v=laO0XhG_Puw