I had a wonderful open house yesterday, with a steady stream of buyers coming to check out my listing on Bellevue Avenue in Silver Lake. And while I got lots of positive feedback on the house (which already has offers), I also heard stories of frustration. I can understand why. This is a highly competitive time in the market, especially in some north east LA neighborhoods and at certain price points. So if you’re one of the many nice folks I’ve spoken with who has lost out on a house, or even missed out on your chance to put in a bid, here are three important things that might help you for next time.

Be ready. If you’re taking out a mortgage loan, as most buyers are, get pre-approved. And if you’re a cash buyer be sure to have your finances “in hand,” which is to say liquid and available. In both cases you are sending a signal to the seller  that yours is a serious offer and that you are prepared to make a purchase.

Be willing.  Sellers look for a buyer who demonstrates commitment. Your finances should be in place (see above) and you should do all you can to show your very genuine interest in the property.

Be able. By this I mean be informed. It’s easier than ever, right? Smart phones, real estate apps, but believe me, the best way to get plugged into this market is by working with a good local realtor. We communicate with each other all the time, exchanging info and intel that the internet cannot provide. So if you have any questions, or want to get a leg up in your home search, contact me anytime here.

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