(WKBN) – Location is no longer the first concern in real estate. It’s more “the art of the deal.” Today, we explored some of the creative ways local people are trying to land the properties they really want.
The hunt for housing is hard. Melissa Romain, of Lordstown, was looking at several different condos and every time she’d call, they’d be sold.
“I would find things that were four or five hours, and then I’d call to make an appointment for the next day and by the time I would get there, sometimes there would be contracts on them,” she said.
She had to get aggressive. She found one in Howland and put a contract on it. The situation was a stroke of luck.
“Sunday I got in sooner than four or five. Other people were lined up to look at it and I was one of the first ones in to look at it, and then I put a contract bid on it,” Romain said.
She also wrote a clause that if someone else came to bid, she could increase her bid. Romain got the condo.
Other buyers are experiencing the same thing. One of the new strategies is that some buyers seem willing to forgo a home inspection to seal the deal.
“As fast as these properties are going, they’re coming up with any way to get the edge that they can to get a property, to get what they want,” said Lisa Yelichek, CEO of STAR (Stark Trumbull Area Realtors).
Some buyers want the fewest amount of contingencies in an offer to get it accepted. They’ve lost out on other offers. Some are even willing to throw more money into the deal.
“They’re bringing extra cash to make up the difference for the appraisal at different prices because they really want the house and they have the cash to do it,” said Steve Ferrebee, with Stouffer Realty.
Romain is glad she got a great property in a good school district. She tells other buyers to be ready to make quick decisions.
“Because if you wait two or three or four days, then they’re usually gone,” Romain said.
Realtors believe more homes on the market would help ease the pressure of buyers chasing hard for the first property they like.