Time is of the Essence!

This past month has been a roller coaster ride! To categorize the Westchester County Real Estate Market, I would use the saying, "time is of the essence!"

I am currently working with five buyers that are looking for single or multiple family homes in Westchester County, NY. As I make appointments to view properties, I have found many are unavailable within a week or two of going on the market. One buyer was interested in viewing 17 listings, but eleven had either an accepted offer or a signed contract! In this market, an appropriately priced listing will be snapped up, and it doesn't matter the price point or the location.

Two of the factors affecting the market are high buyer demand and low inventory. To offset this market shift, I have been advising my clients to be pro-active and make an aggressive offer. If they like something, they need to act quickly.My advice to anyone considering the purchase of a home in this market: Don't wait, and prepare before you find the right one.  Preparation should include:

• speak to a real estate attorney in advance so they are ready to act upon receiving a purchase contract (it's important that the attorney specializes in real estate or it could cost time, money or the property),

• have the name of a trusted home inspector in order to schedule an inspection immediately,

• get pre-qualified for a mortgage by contacting a trusted mortgage professional,

• speak to an independent insurance agent so they can start an application for homeowner's insurance

Please feel free to pick up the phone and call me at (914) 721-0038 with any questions you might have about the Westchester County, NY, market.