Lake Ridge Virginia Real Estate News

Here we go again Multiple Offer Situations in Woodbirdge Virginia.

For the entire month of February 2015, my twin sister Patty Blackwelder the Exclusive Buyers Agent for the Twins Selling Real Estate has been house hunting with a first time buyer who was searching for a home under four hundred thousand dollars.

When he first started with her, he had his heart set on buying a single family home. Something that had been renovated and was up to today's standards. You know the drill, granite counters, hardwood floors, stainless appliances, high ceilings and a two car garage.

Buying a home is adventure. As well as a learning process and a moving target,

What kept happening is what happens to many first time buyers. They would go look, one of two homes would rise to the surface and he would want to "Think about it overnight".

Sadly, overnight turned to a day or two and she would have to inform him the house went under contract.

That said Patty's customer really listened to Patty's guidance and left work early one day to house hunt. Good news he found a home he just loved and sat down and put an offer on paper.

Homes for sale under $400,000 Woodbridge Virginia and how to get one

 

When Patty submitted the offer she learned their was another offer that had just come in on the same property. She made the call to the buyer. You have three choices. Stick with your offer ( you made a good one), raise your offer ( or put in an escalation clause)  or withdraw.

Good news:

Patty Blackwelder's customer won. It was a close race, however the purchaser did not ask for the sun, the moon and the stars. The listing agent had price the home well. Patty coached the home buyer on all of his options and shared with him all the recent sales and how much sellers paid toward the buyers closing costs in the past six months to show the buyer what others home buyers received. In the end, this first time buyer is getting a home in great condition, where he wanted to live and it has the two car garage that he really wanted. It just wasn't in the form of a single family home. In was a large two car garage townhouse backing to tree's near Stonebridge Towne Center in Woodbridge.

Moral of the Story

When you are trying to buy a home, and you start loosing the homes you really like to others who make the decision faster than you.  Some home buyers get mad, some raise their price point and for those who cannot they  decide to quit and rent.

Waiting to house hunt on the weekends can become a loosing battle.how to buy a home under $400,000 in Woodbridge Virginia

Typically frustrated home buyers have a "light bulb moment"

Serious home buyers with a goal of home ownership and a tight budget who decide to take a day off during the week to house hunt will be the successful buyer, "That's how you win in the local Prince William County Virginia real estate market!"

Buying a home is a HUGE decision.

Warning: When you get pre-approved for a home loan. You cannot lock in your interest rate with the mortgage company until you find a home, negotiate and get a ratified contract. So not only do you face the competition of other home buyers looking at and making offers on the home you want, if rates go up even a quarter of a percent. You could be priced out of the market.

Ok, you can SCREAM NOW! I know...it's so much pressure!

We know you just want to buy a nice house under $400,000 that you can be proud of and that you will love living in for years to come. We can help you find exactly what you are looking for. We have quite a few beautiful home listed right now. Take a look at the Homes Listed by The Twins Selling Real Estate or contact Patty Blackwelder by email and she will be glad to help you of call her at 703-801-9367.

 

Peggy James Realtor

 
 
 
 
 
 
 
 
 
  
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Note: This real estate blog is written by me Peggy James and it is is my opinion and may not reflect the opinion of Exit Realty  Assocaites 8998 C Lorton Station Blvd, Lorton Virginia 22079 .I have been blogging since 2008 and I am a full time REALTOR® .
Fair Housing Symbol

 

1 commentPeggy James • February 28 2015 05:22AM
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