Purchasing a Home in a Seller’s Market

DSC_2354With lower interest rates and rising rent prices, more people are taking the leap into home ownership. With the current Seller’s Market many are facing fierce competition, limited choices and the pressure to act quickly. The biggest challenge is that there are not enough homes on the market. In some areas homes are being put under contract in a matter of days.

So what should home buyers do when the market favors the Seller. Here are a few tips on increasing their chances of landing the winning bid without paying more than they should.

pre-approval-imageFirst Thing – Get a Pre-Approval Letter

You might know that you’ll be approved based on your credit score and debt-to-income ratio, but the seller doesn’t. The pre-approval letter from a lender shows the seller that you have been financially vetted and how much you can afford to pay.  Presenting the pre-approval letter to the seller lets them know you mean business, and in a competitive market it will allow you to act quickly when you see a home you are interested in.

Work With an Experienced Agent

real-estate-dual-agency-buyers-and-sellersIn a competitive seller’s market, buyers need all the help they can get. Having an experienced buyers agent on your side will increase your chances of landing the home you want. Working with a buyer’s agent saves tons of time and stress, they know the process and can provide insight into the negotiation process.

Make Your Best Offer

We are all motivated to buy what we want for as little money as possible. Making an offer lower than the list price is a normal strategy, especially if the house is overpriced in comparison to the other comps in the area or if it’s a buyer’s market. However, trying to get a deal in a Seller’s Market might not be the best strategy. When there is a shortage of inventory and a lot of competition a better strategy would be to go in with a strong opening offer.

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Estancia at Wiregrass

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The Estancia Club

Estancia is one of New Tampa’s newest master-planned communities, located in the heart of Wesley Chapel just north of the Shops at Wiregrass. Estancia offers easy access to dining, shopping and entertainment. Located in close proximity to I-75, Entancia is short drive to Tampa and the award winning beaches of St. Petersburg/Clearwater, museums, sports venues and Tampa International Airport.

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The Estancia Club

Homeowners in Estancia will enjoy incredible amenities, including the exclusive Estancia Club, walking trails, neighborhood parks and more. Impressive home designs, features and community design make Estancia a community like no other in Tampa Bay. Some of the community features include an impressive gated entry, natural gas, reclaimed water service, providing water conservation and lower utility expenses. The Estancia Club is a 7,000 sq. ft. clubhouse with an elegant club room and a meeting room. The Aquatics center with shaded loggia and cabanas overlooking sparkling pools and an attraction-quality tower slide is sure to impress the discretionary home buyer. The club also features a state of the art fitness center, sports courts, and wide open park spaces.

image_240_135There are 9 unique neighborhoods to explore. CalAtlantic the builder for Estancia offers 24 home designs ranging from approximately 1,620 to 5,660 sq. ft. The homesites include waterfront, cultural-de-sac and conservation options. The new homes range in price from the mid $200s to the mid $500s. Currently there are 3 model centers open, one in Treviso (Treviso, Matera, Ravello and Tavira), one in Marbella (Marbella, Cortona, Savona, and Vicenza) and one located in Santeri Villas.

The Ridge at Wiregrass Ranch

 

 

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The Ridge at Wiregrass Ranch, is a new GL Homes luxury community in Wesley Chapel. From the moment you drive through the impressive front entrance complete with lush landscaping and a waterfall you get the sense of what the community has to offer.

The Ridge offers innovative home designs, world-class amenities, and the ultimate resort lifestyle to this exciting area. The community boasts 22 single family residences to choose from spanning from 1,900 sq. ft. to more than 5,200 sq. ft. The large variety of floorplans range anywhere from 2bed/2bath/2car to 5bed/5bath/3car. Many of the standard features that are available to the home buyer are seen as “upgrades” in a lot of the other new developments in the area, like gourmet kitchens with granite counter tops and stainless appliances. Homes prices at The Ridge start at $295,900 up to $614,900.

Once complete The Ridge at Wiregrass Ranch includes 477 home sites along with resort style amenities right in the center of the community. The impressive 11,000+ sq. ft. clubhouse and recreation center is sure to impress the most discretionary buyer. Inside the clubhouse residents will enjoy a social hall, catering kitchen, theater/media room, game room, a multi-purpose room for fitness classes and a fully equipped fitness center along with an indoor sports complex for air conditioned basketball and more. The 5-acre recreation center includes a spacious covered patio overlooking the resort style pool with beach entry and water slide, pool area fire pit, wet play activity center, lap pool, four lighted clay tennis court, one full court basketball, one beach volleyball court, shaded tot lot, open play field and party pavilion.

 

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Luxury Clubhouse

The Ridge at Wiregrass Ranch offers easy access to shopping and dining. Three A-rated schools and a state college are all within walking distance of The Ridge. This new community tucked away in Wesley Chapel provides quiet Florida living yet with its proximity to major highways it is just a short drive to enjoy all the amenities that the Tampa Bay area has to offer including; museums, sports venues, and a major international airport.

Click here if you would like more information about The Ridge at Wiregrass Ranch or if you would like to schedule a time to tour the community.