As the current number of homes for sale stays below the traditional healthy level of a six-month supply threshold, first-time buyers need to bone-up on their home buying game plan. 
Homes are staying on the market on average about 60 days currently.
Knowing what, how and when to pull the trigger on a house is a lot like hunting: your ‘prey’ is alive and a moving target. Markets change faster than ever today.
- Identify your home wish list.
- Get pre-approved for your loan.
- Work with a real estate agent who is familiar with your desired purchase neighborhood. Agents call this their farm; they are familiar with the nuances, the politics, the attorneys and appraisers for that neighborhood.
- If you know or have an attorney, they can be invaluable to keep the home buying process moving ahead. Since first-time buyers don’t have the responsibility of selling a home, they able to close quickly. This makes them an attractive buyer especially if the seller finds that they are in a rush to sell.
- Be on the lookout for a hungry seller. Signs of a motivated seller could be a series of price reductions, days on market, or change of listing agent.
ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.