When approaching a seller’s market such as downtown Boston, you should be prepared to face some complexities. It’s always better to evaluate strategies and follow the most appropriate one. With this in mind, here are some tips for those interested in condos or high rise penthouses for sale in downtown Boston.
Hunt for a Home During the Right Season
Boston Beacon Hill condo prices and sales activity rise and fall according to supply and demand, but they are also sensitive to seasonal factors. The summer months are often the busiest because families take advantage of school vacation to look for homes. At a national level, housing inventory starts rising in the fall. Furthermore, sellers who keep their listings on the market during the holidays tend to be more motivated.
Start with a Mortgage Preapproval
When the Boston condo market heats up in favor of sellers, bidding wars become the norm, and this is when mortgage preapproval documents come in handy. For example, prospective buyers who bid on Midtown/downtown Boston condos without evidence of assets or potential funding are placed at the bottom of the bidding totem pole. A mortgage preapproval also helps buyers set smart financial goals, such as looking for properties priced below their means. Let’s say a single professional is interested in the Boston Downtown condos.
Choose the Right Professionals
It’s easier to prevail in the real estate market when real estate agents and mortgage loan officers can relate to their clients. For example, when homebuyers intend to apply for VA loans, they tend to look for mortgage brokers who are veterans themselves.
It can be easy for anyone to get overwhelmed when they’re choosing a Boston condo from all the options available in downtown Boston real estate. If you follow the suggestions mentioned above, you’ll have a great start on your home-buying strategy. The experienced professionals at Ford Realty can guide you through the process of buying your perfect dream home. Call one of our friendly agents today at 617-720-5454 and set up an appointment to discuss all your home-buying needs
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