April 28 and 29th is a weekend dedicated to open houses and connecting buyers and sellers in the current housing market. In Minnesota, the market is showing signs of recovery. The newest housing report from the Minnesota Association of REALTORS® shows closed sales and median prices were up again in March compared to the same time last year.
Before you go out to an Open House this weekend, MNAR President June Wiener has some advice for prospective buyers. She shared her tips on KSTP – you can see the interview here.
This is all about determining your price range and what you can afford. You may be approved for more than you can afford so make sure you look at your budget. You want to avoid the heartache of falling in love with a home is out of your price range.
Determine Desired Location
Which neighborhoods are you interested in? Ask family and friends and look at where you spend your time. Where is your gym? Where is your church? How would a move to a certain community affect your commute?
Narrow Your Search
It’s easy to get overwhelmed. June recommends narrowing your search to five homes. This will help you from getting too much buyer fatigue!
Keeping Track of Open Houses
When you’re touring several open houses it can be easy to lose track of which homes you like and what you liked about them. Take notes and highlight the pros and cons of each property. This will help jog your memory later on.
Make an Offer
As the market begins to recover – REALTORS are seeing multiple offers being made for properties and some homes selling fairly quickly. If you see something that fits what you want and is in your price range, consider making an offer at the Open House.
If you are interested in finding an Open House this weekend – click here to see what’s being shown where you live!