Tri-Cities homes selling quicker than last year, agents offer buying tips
KENNEWICK, Wash. – One day they’re listed for sale, the next day, that house is sold; Tri-Cities real estate experts said the pandemic is to blame.
“The thing with the whole pandemic and people living – being locked down at home; all the sudden they want a bigger house, they want a smaller house, they want room for the kids to teach the kids at home; all those things created a demand that we really weren’t expecting,” Jeff Thompson with Winderemere Group One in Tri-Cities said.
Lower priced homes throughout the Tri-Cities are selling fast, Thompson the Managing Partner said, but he doesn’t believe it’s an inventory problem.
“What I believe we have is a days on market problem; homes are selling quickly, this year half the homes sell within four days,” Thompson said.
Jeff and his colleague, Rachel Robertson, said don’t let the hot market discourage you from buying.
“The good news is, we’re averaging 13 new homes coming on the market everyday. Rates are good, inventory is out there, but you just got to be ready to go,” Thompson said.
Robertson, a Realtor, said it’s absolutely possible to be a first-time buyer in a seller’s market, but you need to start by getting pre-approved and finding a good agent.
“It’s also important that your realtor helps you get your ducks in a row,” Rachel said.
Roberston added, your agent should be proactive, and send you homes that meet your desires. She said it’s also a good idea to look at listings below your budget.
“Your realtor should also be calling the other listing agent and asking that listing agent what are the sellers desires?” she said.
That way, if you make an offer, it’s the best.
“In this market, the asking price is more of a starting price, and depending on the price range of the home, the quality of the home, and how many offers you’re seeing it could easily escalate,” Robertson said you should avoid contingencies in your offer like home warranties or asking the seller to pay closing costs.
Rachel said buyers should also look into new construction and make sure your lender can play around with your options when it comes to financing. She and Thompson encouraging finding a lender that has several local connections and communicates well with agents.
There’s also the option of remodeling a home if you find a house that needs some work in an area you love; there are renovation loans available.
Both Thompson and Robertson agree, in this market you must have patience and a bit of grit, but getting the keys to your home is worth the work.
“I love to see the buyers expression of joy and okay, all of this struggle all of this stress was worth it,” Rachel said they try to keep the process stress free, but sometimes stress in inevitable.
Thompson added, if you’re looking to sell your home, now is a great time.
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