Menu
10 Things You NEED to Know!
GET A HOME INSPECTION!Buying A Home?Below is a series of videos, presentations and worksheets that will teach you what you need to know about getting your credit in shape, building your budget, looking for homes and making that purchase.
Feel free to share this series with your friends and family or anyone who owns or is thinking about owning a home. Cost of Home
|
cost_of_home_ownership.xls | |
File Size: | 69 kb |
File Type: | xls |
The real estate market is crazy!
I am sure you are frustrated that there are only a small number of homes to pick from and probably even aggravated because once those 1 or 2 homes do show up on the market, they are gone within a flash. You didn't even have time to pick up the phone and schedule a time to see it before it went under contract! Or if you were able to get an offer in, it was up against 12 other offers and the bidding war knocked you out in the first round.
I know how frustrating this can be. It is very difficult to be a buyer in today's market. You might even wonder if you will ever find a new home.
So how do YOU as a buyer respond to this market and what can YOU do to find the RIGHT house so that you can move forward with your new home?
I am here to help you! I am here to help you reach that goal and get you into your new home as smoothly and easily as possible. There are a few things we can do to help and a couple of strategies that will put you ahead of the pack when it comes to finding and buying your perfect place.
Get your financing in place. When competing against other buyers on the same property the sellers are choosing the buyers with stable and established financing. This means you need to be working with a lender well before you start to look and not just have a pre-qualifying letter. Sellers are looking for buyers who have already completed the loan application process and have all of their documentation to the lender.
Clearly separate your needs from your wants. In a competitive market, you will likely have to compromise on location, amenities or condition of home. It’s easier to make a choice when you know going in which features you really must have and which you can compromise on. Be flexible and you will have more opportunities.
Be ready to move FAST. A well-located house in good condition and priced right will sell in a flash. You need to be ready to make a decision when you find a home you like. If you are unsure about a particular house than it is not the right house for you and you probably will not have a chance to think about it.
Don’t expect to get a smoking deal. The days of getting a house at a deep discount are long gone. That doesn’t mean you can’t ever get a discount on a house that needs work, is in a less popular location or otherwise is in less demand. But in a seller's market, there is usually very little negotiating room on price. A good house in a great neighborhood in good condition will often have a bidding war and sell for over the list price.
Understand that no house is perfect. Making your offer contingent on a home inspection is a good move, but all homes have
dents and dings. It is a used house after all. Many sellers won’t fix anything, and there is no reason for them to if there is a backup offer waiting if you walk away. If you nick pick a seller on repairs they will let you walk away.
Find a way to sweeten your offer. Most buyers can’t pay all cash, but there are ways beyond price to make your offer more attractive to a seller. Amount being borrowed, lease back agreements and other options that make the transaction smooth for the seller are sometimes worth more than any dollar figure. There are strategies that we can work on that will make your offer stand out and be more favorable. Again, flexibility will pay off when submitting an offer.
Be patient and persistent. Most of all, do not panic and do not loose hope. There are still plenty of homes for sale and new ones coming on the market every day.
Give me a call so we can spend some time on a good solid game plan for finding your new home and put together some great strategies that will help you reach your goal. This will give you confidence to keep moving forward and keeping a clear goal in mind and when the right house comes along we will know exactly what we need to do to get it.
I am sure you are frustrated that there are only a small number of homes to pick from and probably even aggravated because once those 1 or 2 homes do show up on the market, they are gone within a flash. You didn't even have time to pick up the phone and schedule a time to see it before it went under contract! Or if you were able to get an offer in, it was up against 12 other offers and the bidding war knocked you out in the first round.
I know how frustrating this can be. It is very difficult to be a buyer in today's market. You might even wonder if you will ever find a new home.
So how do YOU as a buyer respond to this market and what can YOU do to find the RIGHT house so that you can move forward with your new home?
I am here to help you! I am here to help you reach that goal and get you into your new home as smoothly and easily as possible. There are a few things we can do to help and a couple of strategies that will put you ahead of the pack when it comes to finding and buying your perfect place.
Get your financing in place. When competing against other buyers on the same property the sellers are choosing the buyers with stable and established financing. This means you need to be working with a lender well before you start to look and not just have a pre-qualifying letter. Sellers are looking for buyers who have already completed the loan application process and have all of their documentation to the lender.
Clearly separate your needs from your wants. In a competitive market, you will likely have to compromise on location, amenities or condition of home. It’s easier to make a choice when you know going in which features you really must have and which you can compromise on. Be flexible and you will have more opportunities.
Be ready to move FAST. A well-located house in good condition and priced right will sell in a flash. You need to be ready to make a decision when you find a home you like. If you are unsure about a particular house than it is not the right house for you and you probably will not have a chance to think about it.
Don’t expect to get a smoking deal. The days of getting a house at a deep discount are long gone. That doesn’t mean you can’t ever get a discount on a house that needs work, is in a less popular location or otherwise is in less demand. But in a seller's market, there is usually very little negotiating room on price. A good house in a great neighborhood in good condition will often have a bidding war and sell for over the list price.
Understand that no house is perfect. Making your offer contingent on a home inspection is a good move, but all homes have
dents and dings. It is a used house after all. Many sellers won’t fix anything, and there is no reason for them to if there is a backup offer waiting if you walk away. If you nick pick a seller on repairs they will let you walk away.
Find a way to sweeten your offer. Most buyers can’t pay all cash, but there are ways beyond price to make your offer more attractive to a seller. Amount being borrowed, lease back agreements and other options that make the transaction smooth for the seller are sometimes worth more than any dollar figure. There are strategies that we can work on that will make your offer stand out and be more favorable. Again, flexibility will pay off when submitting an offer.
Be patient and persistent. Most of all, do not panic and do not loose hope. There are still plenty of homes for sale and new ones coming on the market every day.
Give me a call so we can spend some time on a good solid game plan for finding your new home and put together some great strategies that will help you reach your goal. This will give you confidence to keep moving forward and keeping a clear goal in mind and when the right house comes along we will know exactly what we need to do to get it.
How Much of a Down Payment
|
Quick Links!
Fast info at the click of your mouse...... What's the First Step?How to get started and some important
questions to ask yourself. Are you Ready to Buy a Home?
Some hard questions to ask to see if you are
really ready to be a home owner. How Much Can you Afford?How to find out how much you can afford
and stay on budget. The Benefits of Owning
Pride of home ownership, building net worth and many others......
Cost Benefit - Rent vs. Buy
Does buying a home make financial sense?
What is it really going to cost? Myths about Home Ownership
"You'll never qualify." "The banks will rip you off." "Now is a horrible time to buy." and other misconceptions you broke friends are telling you.
How Much Are Closing Costs?
What are these things and how much do
I need at closing? Selecting a Mortgage
Programs and options that are available.
How to find the best one that fits YOU! House Hunting Tips
Quick tips to help you find the perfect place
and be happy for years to come. Home Owners Insurance
Protecting your investment and
giving you peace of mind. Title Insurance
What the heck is this???
And do I really need it? Should I get a Home Inspection?
Why get a Home Inspection and how to address
items that come up on the report. |