Storm Lake real estate, not a lot to choose from and a highly competitive market. Not many homes available for sale in Storm Lake, 17 total as of today. If you are a buyer, it is very important you work with a Realtor who will take the time to help understand your needs and counsel you on what you need to do to secure a property. It isn't just going to see houses! You need highly skilled and trained Realtor working for you, they will need a signed Exclusive Buyer's Agency agreement, a pre-approval letter for a mortgage, you to be very flexible with days and time to get out to see properties as soon as they come on the market. You may need to e able to pay your own closing costs or at least be able to increase your offer the amount you are asking the seller to pay for closing costs.
Sellers have their own closing costs and in a low inventory market, there are more buyers who do not ask sellers to pay closing costs, so to be competitive you need to either pay your own or increase your offer by the amount you need the seller to pay. However, the property must still appraise for what you are offering.
As far as available properties in Storm Lake, of the 17 available homes, 8 are over $200,000, 3 of the 8 are over $300,000 and 1 is over $600,000. The remaining properties, 9, range from a condo at $59,900 to a house at $188,000.
Of the 9 homes under $200,000 six have been on the market 25 or more days - indicating they are possibly over priced or have some other undesirable condition, since they have not sold in the very low inventory condition of the market.
One other tip is to have a successful, experienced, full-time Realtor who is a Certified Negotiations Expert (CNE) working for you. Your chance of securing a home with reasonable terms in a low inventory market with an inexperienced, part time realtor with no negotiations training is pretty low.
Call me 712-291-0118, I can help
Georgia Weaver - Broker Owner
REALTOR, GREEN, CNE, CRS, PSI
www.WeaverRealtors.com
#1 Recommended Real Estate Company in Storm Lake on GOOGLE
