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Buying a Home in 2017? Prepare for Battle

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If you’re thinking about buying a home this year, arm yourself with cash -- and gird for an aggressive, nasty and stressful battle in many markets. You may also need to up the price you’ll actually pay well beyond your planned budget, according to a survey by website Owners.com.

“Home buying is about substantive economics, but it’s also got an element of ‘animal spirits,’” said its President Steve Udelson. “In some of the hottest markets, we’ve seen a double-digit run-up in prices.”

The website surveyed 1,289 prospective buyers nationwide, and its findings suggested that most prospective homeowners already had their feet in the starting blocks for the spring selling season. More than half were willing to go beyond their budget -- by an average of nearly $38,000 -- to get the property they desired.

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