The Spring Thaw

by Darrin DeRoches February 20 - 26, 2014

It may be too soon to talk about the spring thaw when it comes to the weather, but in the real estate market the spring is going to be super hot! The market has stayed strong during this brutal winter in Hamilton, compared to other markets, and all indications show that the spring market is going to come on very strong. The abundance of buyers and fewer properties on the market is causing prices to rise and is creating stiff competition among buyers. If you are thinking about buying in the spring, be prepared.     Buyers need to be ready to act fast and go strong if they want to get their dream home this spring.  First things first, hire a great broker to get you ready.  Make sure that they are on top of the market and are ready to move fast.  If you have to wait for a return call or the secretary is “paging” them for you — get someone else.  Your agent should be available to you “in minutes” and be available at all hours.  A house may come up at night and your broker should be on the phone setting up an appointment first thing — ahead of the others — so that you can get first crack at the property. Once they have their foot in the door, they also have to know what to do to get the deal done. This only comes with experience and a business background so if they cannot make things happen, find another broker. The spring market is going to be so hot you have to have the best or you will find yourself bidding on properties and not winning.     To make your offer strong you should also not only be pre-approved, but you should have your mortgage broker prepared with the entire proper paperwork sitting, waiting for you to send them an accepted offer.  Being able to close the property quick will also work to your advantage and having the right mortgage broker working with you can make or break the deal.  The mortgage broker should also be available to you at a moment’s notice and if they are not willing to do the work, meet with you and have your total package together, then hire someone else.  The right team of professionals will make the difference between getting your dream home or sitting on the sidelines watching home after home going to the buyers who have done their homework and hired the right team to get the job done.     The spring market is going to be blazing hot and you only have a few short weeks to get ready to buy. It is a sellers’ market so as a buyer you must be ready to get the job done.  Hire the right team of brokers and prepare yourself to be in competition to come out on top.  Next week I will write about what the sellers need to do to get top dollar for their property in the coming spring market. V     Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca