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Greensboro realtor offers home-buying tips for hot housing market

Right now, houses keep going fast and above the asking price.

GREENSBORO, N.C. — The weather doesn't just get hot in the summer, so does the real estate market.

Home sales typically peak in June.

A hot housing market means more homes are listed, especially those under 400,000 dollars.

Right now, houses keep going fast and above the asking price.

Marvette Artis is the Greensboro Regional Realtors Association president.

She said there are things future home buyers need to watch out for. 

"Houses are really going quick," said Artis. "It is still a seller's market. We have low inventory, and high interest rates, but keep in mind when you're going in looking for a house to make sure that you're looking at the house and that you don't get starstruck because you love the cosmetics or the aesthetics of the home."

Artis said to take it step by step before you start looking at homes.

First, plan for the process.

Artis said to figure out what you want and what you can pay. That way, when the house you want comes up and is available, you are ready without overspending.

When you look at the home, check the age of the roof, heating and air, and hot water heater.

Once you are ready to make an offer, be prepared to pay due diligence money.

It's a fee going directly to the seller, allowing you time to get an inspection of the home.

The seller will take the house off the market during this time.

It's important to be prepared for this because, while the money can be put towards the home price at the end, if the buyer decides to pull out of the contract, the buyer doesn't get that money back.

Artis said it's why you need to work with a professional on an affordable amount to put down, because if you learn there are major issues with the home you may want to pull out, but will lose that money.

The higher your due diligence though, the more marketable it is when the seller decides to accept an offer.

"A professional is always good to assist you from beginning to end," said Artis. "They're going to hold your hand. They're going to take you through the process. They're going to help you navigate this transaction which is ultimately one of the most if not the most expensive purchase that you'll make in your lifetime."

If there are any concerns during the process, reach out to the North Carolina Real Estate Commission. 

You can find their information here.

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