Get the Inside Scoop on Scoring Hot Property in Big Bear
Realtor/Real Estate Investment Consultant Erin Lanza offers insider tips on how the savvy investor can position him/herself for success in acquiring a hot property when it hits the market.
Erin’s 6 Tips on How to Score a Hot Property in Big Bear
1. Trust your agent
Find an agent in Big Bear with whom you have chemistry, someone you can trust. Your agent is your eyes and ears in the market and will be the first to alert you to properties that match your criteria. Commit to your agent who is committed to finding your property as soon as it reveals itself.
2. Learn the market
As you look at listings online or in person, track their status. How long have they been on the market? How many price reductions? Your agent can tell you the details about status changes to any listing you are interested in.
3. Move quickly
Be ready to act fast when your property hits the market! When your agent calls to tell you that the perfect cabin for you has just been listed, get in the car and get up to Big Bear to look at it. Hot properties sell fast and the early bird gets the worm.
4. Make the right offer
Don’t choke when it comes to writing the offer. You have done all of the other stuff right – you’ve learned the market, you trust your agent, you’ve moved quickly. Write a strong offer that won’t be beat out by the competition.
5. Move slowly
This may seem contradictory to point #3, but sometimes it pays to be patient. A hot deal may be a short sale that takes extra some time to come together. Or, overpriced listings can quietly creep down to a great price range when nobody is paying attention (except your agent!).
6. Be realistic
In a hot real estate market such as ours, you may need to make multiple offers before one sticks. When an offer gets rejected or out bid, chalk it up to being part of learning the market. You may have to adjust your expectations and, with the help of you agent, stay in the game until you score!