THE EVERETT ADVOCATE – FRiDAy, OCTObER 4, 2024 Page 23 Spotting a Great Deal in a Competitive Real Estate Market: How to Find a Good Deal in a Competitive Real Estate Market This is perhaps nothing as daunting as finding a good real estate deal in a hot and competitive market. While it may seem like finding the needle in the haystack, with the right strategies and knowledge you will be able to identify those opportunities which might pass by others. Here's how to find a good deal in a competitive real estate market. 1. Know Your Market Inside Out: First, know the local market. Get to know prices currently, time spent on market, and neighborhood trends. If you understand what a home is actually worth, you'll know when a property is priced below value and spot it immediately. 2. Take Advantage of "Days on Market": Long lasting listings may also mean that the house is a good deal. Those houses that have sat on the market unsold for months may be easier to negotiate prices with. Careful though, make sure the long listing isn't because there are huge issues with the house. 3. Consider Off-Market Deals: Off-market deals involve properties that are not on the market, yet may become available. Examples include preforeclosure property, for-sale-by-owner property, and properties via local networking. These may come through networking with other agents and industry professionals. 4. Be Ready to Move Fast: Don't be held back by a competitive market. Get pre-approved for a mortgage, and have all your financial documents in a row. This puts you in a position to strike quickly when a great deal comes your way, and gives your the leverage over the buyers. 5. Look Beyond Cosmetic Flaws: Outdated kitchens, worn carpets, and poor landscaping will turn off many buyers. However, most cosmetic issues are relatively easy and inexpensive to fix. Homes that require minor improvements usually sell for much lower prices, so these homes can be a very good opportunity for buyers willing to invest a little effort and sweat equity. 6. Focus on Location: The old adage in regard to real estate is "Location, location, location." A great property in an up-and-coming neighborhood or near schools and amenities has the potential to be a goldmine. Even if the home needs some modernizing, often the right location makes the investment worthwhile. 7. Evaluate Long-Term Potential: When hunting a good bargain, consider the long-term outlook. Will the neighborhood appreciate in the coming future? Are the infrastructural or economic aspects that will boost property prices? Purchase a house with the best long-term outlook to secure a good bargain now and for years to come. 8. Consider Fixer-Uppers: You can often pick up fixer-uppers at a discount. If you don't mind putting some time and money into renovations, the payoff can be huge. Just be sure to calculate renovation costs carefully to avoid spending too much. 9. Work with an Experienced Agent: A good real estate agent can help you identify a good deal in no time. They know the market, have 'pre-market' access to the properties, and can negotiate the best possible price on your behalf. 10. Be Flexible with Your Criteria: This means that if you can be flexible on things like square footage, the number of bedrooms, or specific amenities, you will allow yourself to consider more deals. Sometimes, compromising on a few features of the house that are really not essential can help in getting a better deal. In a competitive real estate market, being proactive, well-prepared, and open-minded is key to spotting a great deal. Stay informed, be ready to move quickly, and don't be afraid to look beyond the surface to uncover the hidden gems. For Rent $2600 per month $649,000.00 FOR SALE: Charming home on a picturesque tree-studded lot, blending comfort with convenience. The first floor features a bright family room and an inviting oak kitchen with hardwood floors. The main bedroom offers a private balcony and his-and-her closets. With 2.5 baths, a spacious deck, and a garage, this home is both functional and serene. Set back for privacy yet close to amenities. Call Christina at 603-670-3353 or email at chrstdesousa@yahoo.com Charming Malden Studio for Rent – Prime Location Near Train $1900 per month For Rent Spacious and Sunlit 2-Bedroom Apartment with Gleaming Hardwood Floors and In-Unit Appliances – Ideal for Comfortable Living FOR RENT: Step into this inviting 2-bedroom apartment. Gleaming hardwood floors and bathed in natural light, this space exudes warmth and comfort. A washer, dryer and refrigerator included with the rent amount. To maintain our standards, we require a credit score of 680 or higher along with references. Enjoy a pet-free and smoke-free environment, fostering a clean and tranquil atmosphere for all. FOR RENT: Available October 1st. Malden studio apartment conveniently located near train. First floor with laundry available in building. Off street parking for one car. NO PETS. NO SMOKING. First, last and 1 month broker fee = $5,700 to move in plus $32.95 credit and background check. Offered by MANGO Realty of 38 Main Street Saugus. We adhere to fair housing laws and guidelines. Call Peter at 781-820-5690 or send an email at infowithmango@gmail.com Charming Home on Serene Tree-Studded Lot with Modern Comforts and Privacy MANGO REALTY INC 781-558-1091| infowithmango@gmail.com www.mangorealtyteam.com If you're looking to buy or sell, Mango Realty is your trusted partner in navigating the real estate market with confidence and ease. Our experienced team brings expert knowledge, local market insight, and a commitment to delivering results that meet your unique goals. Whether you're a first-time homebuyer, seasoned investor, or ready to sell, we provide personalized support tailored to your specific needs. From strategic marketing and home staging to negotiations and closing, we ensure every detail is handled with care. Let us guide you through the entire process, making your next real estate move seamless and stress-free. Contact Mango Realty today to get started on achieving your real estate dreams! MANGO REALTY INC 781-558-1091| infowithmango@gmail.com www.mangorealtyteam.com Contact us for details Unlock Business Success: Prime Commercial Space in Saugus, MA! Unlock your business potential with this ideal location, offering high visibility, ample parking, and easy access. Perfect for office, or professional use. Grow your business in the heart of Saugus! Contact us today for a tour! TRINITY REAL ESTATE Providing Real Estate Services for 17 Years Servicing Saugus, Melrose, Wakefield, Malden, all North Shore communities, Boston and beyond. Agent Spotlight Michael began his real estate career in 2009 and became a top professional in metro Boston, assisting over 100 families. He is focused on building strong relationships, staying updated on market trends, and leveraging local knowledge to guide clients. Michael’s success is driven by his passion for architecture and extensive customer service experience. He values trust in managing investments and aims to make your real estate goals a reality with minimal stress. Michael Foulds, REALTOR ® 617.461.1952 MichaelFouldsRE@gmail.com The Trinity Real Estate Team Lori Johnson has been a successful REALTOR® since 1997, serving the Saugus area. She is recognized for her professionalism, market knowledge, and ethics. Lori's ability to understand her clients' needs contributes to her success. Her dependable nature and winning personality foster strong relationships, ensuring smooth transactions and a stress-free process. Choosing Lori means having a "REALTOR® for Life." Lori Johnson, REALTOR ® 781.718.7409 HomeWithLori@aol.com 321 MAIN STREET | SAUGUS, MA | VILLAGE PARK TrinityHomesRE.com 781.231.9800
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