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Our real estate market is strong!

July 29, 2020

The real estate market in our area is still very strong, and doesn’t seem to be slowing down. We hear stories every day about people who list their home and get three offers immediately, sometimes for MORE than the asking price.

If you’re in the market for a new home and want to make sure you get the home you want, remember these tips:

Get prequalified

Go online or contact a lender and fill out the necessary paperwork to get prequalified. You’ll know exactly what you can afford, and you’ll have the upper hand if other people are bidding on the same house. You can get started here.

Get an appraisal

You may feel a house is fairly priced, but we want to make sure you don’t overpay in today’s market. Appraisals are based on “sold comparable properties”, not “Oh, I love this home – it’s worth more than they’re asking.” An appraisal protects you as well as the lending institution.

Consider a home inspection

Home inspections are important but not required on any home loan that SMB has available. However, it’s always good to have someone check out the home so you aren’t surprised later.

Keep an open mind

Try to stay flexible and keep an open mind. We know that sometimes you fall in love with a house and it’s hard to keep looking, but if you find two or three that fit the bill, you’ll have more flexibility when it comes to negotiating. Don’t tip your hand immediately!

Keep these points in mind for a smoother home buying experience. And be sure to call any of our friendly real estate lenders if you have questions. At Southwest Missouri Bank, we want to help turn your dream into a reality!