YOUNGSTOWN, Ohio (WKBN) – The start of a new year often means new beginnings. For some, that means a new home.
January is being recognized as “Get Organized Month.” If you are looking to purchase a home, that organization can go a long way in helping you get started.
Wendy Perez is a real estate agent with Berkshire Hathaway Stouffer Realty. She says figuring out your timeline is key.
“If they will be needing a house next month, then they will have to get started,” Perez said.
According to a recent study conducted by Realtor.com, 45 million millenials alone plan to buy their first home in 2022. With the market as hot as it is, buyers must be patient.
“You going to run into multiple offer situations. Just be patient that you may not get the first offer that you will submit,” Perez said.
Anne Petit, Division of Real Estate and Professional licensing superintendent said she first recommends home buyers get their finances in order.
“What you don’t want to do is run up credit purchases that might negatively affect your ability to actually close on the transaction,” Petit said.
Comparing this past November to November of 2020, the number of houses sold went up 5.5%. Since inventory is low right now due to supply and demand, Perez says being flexible could work in a buyer’s favor.
“The buyers who able to go into an offer situation with few contingencies, few demands or requirements of a seller are probably going to be more successful,” she said.
Perez said to not completely waive your right to inspections of the property and make sure you are working with an active licensed real estate agent and gathering necessary documents needed for closing.