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It’s a great house, we want to buy it!

February 15, 2011

It’s a GREAT house, we want it! But first we have to think about it….

New Milford CT Real EstateYou have been searching for a house in the Greater New Milford, CT area for a while now. It is a serious business searching for a home, I understand. And buyers all know it is a buyers market, so you can take your time, think and rethink… NOT!

There are a few things that are changing the face of the real estate market here in the greater New Milford, CT area. First, our inventory is down. In November of 2010, when I did my market report there were 279 single family homes on the market, today there are 224 single family homes on the market in New Milford, CT. The inventory is getting smaller. Any homes that hit the market that are well priced and in good shape are going quickly!

What does that mean for you, as the buyer of a home in the greater New Milford, CT area? Make sure you are ready to move on a home when you find the one you like! You and a few others are looking for the same home at the same time. Who will get that home? The one that is ready to pounce on it!

I have witnessed 3 couples miss out on homes in the past few weeks. The buyers agents shared with me that they have delayed, over thought, came in low because even if the house is priced right, it is, after all a buyers market.

How can you prevent this?

  • When you find a home you are interested in, ask your agent to quickly run a buyers CMA to see what they think about the price.
  • Be prepared to write an offer asap, if you snooze you lose!
  • Make sure you are already pre approved for a mortgage.
  • Use an agent that knows the local market.
  • Do your own homework before visiting each home, compare other homes in the same price range online if you can, drive the neighborhood, etc.
  • Make sure you are available during the negotiating process, without signatures on offers, they mean nothing! Someone else can come in and scoop the deal right out from underneath you.
  • Make sure your agent will be available during the negotiating process. If not, is there someone your agent works with that can be available with you. You may think 6 hours won’t make the difference but I am here to tell you, IT CAN AND DOES!

Although it may still be a buyers market, buyers are losing out on homes here in the greater New Milford, CT area. The story is repeated over and over again by buyers agents. The buyers are not prepared, the agents were not available to write those offers, negotiations took too long as people took their time. Those who are prepared, who wrote a SERIOUS offer with their agent right at the kitchen table of the home they wanted to buy are the ones getting the homes they want!

If you are looking for a home in the greater New Milford, CT area you can start your home search right here.


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