Here’s How You Can Buy The Home Of Your Dreams

July 21, 2020
Last updated:
March 31, 2022
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Are you looking to buy the home of your dreams? To do so, you need to partner with mortgage and real estate professionals to make that happen.

With housing supplies low and buyer demand high, home seekers must be diligent and patient to find the right property. Research and persistence might just reveal how you can buy the home of your dreams.

On The Ground In WA, ID, CO and OR


Since the coronavirus pandemic occurred, showings and open houses happened virtually. But while that may have been a requirement back then, this tactic continues to be used today, and will likely continue to be used into the foreseeable future.  

Even though there was a temporary slowdown, things picked up shortly after in the Washington real estate market. Further, homebuilding has since resumed. 

In metro areas like Seattle, the number of new listings continues to lag. Inventory continues to remain tight, and demand is strengthening. In fact, Washington State is one of the hottest real estate markets in the US right now.


Still a target for inter-state migration, Idaho has watched the market value of its houses rise by over 28.1% over the past year. Inventories are minimal in Idaho compared to demand. 

At any rate, the incoming president of the Boise Regional Realtors remains optimistic, telling the Idaho Business Review, “If you’re hoping to buy, keep in mind that low inventory isn’t the same as no inventory. There are options available, and rates are making mortgage payments more manageable. On the other hand, if you’re considering selling, keep in mind sellers are getting a great value for their properties with today’s home prices.”


Again, inventory is low in Colorado, particularly in centers like Denver. As a result, home prices have risen substantially in many places. In the overall state, home prices increased 23.5%, which is a very healthy pace.


Oregon realtors are still bullish on the residential market, but that enthusiasm is informed by events. Some home sales professionals believe that mortgage credit criteria will become stricter.

But with rates still relatively low, it may be a good time to get into the market. Right now, mortgage rates for a 30-year, fixed-rate mortgage sit at 4.42%.

View Current Mortgage Rates

Is There Hope For Home Buyers?

With a modest supply of houses for sale, eager buyers may lose heart over slim pickings and high prices. However, they need not give up just yet. There are answers to how you can buy the home of your dreams.

Pay Cash

For some, this is a pleasant pipe dream that will never happen. Still, there are shoppers who do have the cash to pay and the confidence to negotiate. This assertiveness comes from the value of the cash purchase. For one thing, it promises the seller a closing without delay. Many settlements are postponed for unmet conditions on the lender’s loan commitment. 

A buyer-financed transaction avoids such unpleasant surprises. Moreover, neither seller nor buyer have to wait for an appraiser’s valuation, one which may undermine the agreed-upon offer/acceptance price. In general, all-cash deals are streamlined compared to those dependent on third-party financing.

Get Pre-Approved

Most people, though, need help with financing their residential purchases, hence the presence of mortgage lenders. One way to show a seller that your offer is a serious one, and one to be taken seriously,  is to obtain a pre-approval from a lender before approaching the seller. 

No, this is not an official commitment to extend credit; rather, it is a statement from the bank or finance company that it likes what it sees so far. This can convey a shot of confidence for the seller and relieve the buyer of (at least some) stress. This step also helps purchasers to know what they can afford to offer.

Minimize Conditions

Offers on homes are often accompanied by conditions, or contingencies, that the seller is expected to address. These can include minor repairs or major ones,  a new roof, for example, or the removal of an old oil tank. Of course, no buyer wants to pay a hefty price and then pay more for home repair. 

In seeking a new property, nobody should settle for a broken down structure at a premium dollar figure. There should be a balance between the upfront cost and the value of subsequent restoration. That said, keeping contingencies to a minimum is more attractive to a seller receiving multiple offers. The “cleaner” the proposal, the better.

Advance A Competitive Bid

Purchasers do not help themselves, especially in such tight markets, by low-balling their offers. Remember the dearth of inventory and the abundance of buyers like you. It may very well be that sellers are receiving bids in excess of the appraised value. With this in mind, a buyer should look at the asking price and determine if a little more would be a worthwhile investment to sweeten the pot.

  • The median single-family residence value in Washington is $593,897
  • The median single-family residence value in Oregon is $500,527
  • The median single-family residence value in Idaho is $467,315
  • The median single-family residence value in Colorado is $558,210

While medians are not reflective of every region and locality, they can serve as starting points for calculations.

The Personal Touch and a Touch Of Patience

Not all sellers are coldhearted misers thinking only of dollars. Many have a large emotional investment in their properties and want to pass them off to new owners who appreciate them. A buyer who can tap into the sentimental side of the equation gains an edge over competitors who do not.

Thus, a personal written appeal to the seller is very much in order. Furthermore, those who have the time and inclination to wait out their rivals are also more likely to be successful with optimal properties.

A Mortgage Professional Can Assist You With Getting Your Dream Home

Mortgage loan officers keep close track of markets, interest rates and property values. Beginning your search with a conversation with one of these experienced professionals is a positive first step.

Need a Mortgage?

Sammamish Mortgage has been around since 1992 and has been assisting people in the Pacific Northwest realize their dreams of buying a home. If you are looking for a mortgage, we can help. Sammamish Mortgage offers mortgage programs in Colorado, Idaho, Oregon, and Washington. Feel free to Contact Us if you have any questions. If you’d like, you can also View Rates on our site. Or, you can Apply Instantly, or even get a Rate Quote.

Get an Instant Mortgage Rate Quote Today

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