Three tips for first-time homebuyers in this market

We've noted how a lot of starter homes are getting gobbled up quickly by homebuyers seeking to take advantage of the $8,000 tax credit. The competition for starter homes is fierce right now. Our buying clients are learning that a lot of the listings priced below $250,000 already have accepted offers.

Here are 3 things you can do to help ensure you are able to purchase the home you want:

#1: Work with your lender to get your loan pre-approval before you start touring homes. You'll need that pre-approval to compete with other buyers that may be making offers on the same home as you.

#2: Have your buyer agent set you up on an automated MLS search. The auto search will send you an email as soon as a new listing matching your criteria hits the MLS. It will also send you an email whenever an existing listing matching your criteria undergoes a price change.

#3: Don't wait for the weekend to tour a home that really intrigues you. Try scheduling a showing during the work week (during the lunch hour or after work). Starter homes that show well and are priced right can sell in a matter of days in this market.

For more buying tips, check out the buying real estate page at DaneCountyMarket.com.

Have a good weekend,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com