Special offer

Purchasing in a Buyer's Market (at great pricing): from my favorite Jacksonville FL Realtor

By
Real Estate Agent with Your Choice Real Estate

We can all agree that it is a buyer's market here in Jacksonville FL.  However, with that we can also agree that the days of rock bottom $.50 on the dollar offers are gone--unless they are a short sale and the bank may negotiate that price.  So what is a buyer, who wants to land 'that' home to do?

Offer smart.

First and foremost pre-approve for a mortgage.  You will then be able to confirm to the seller that you actually will be able to purchase this home, and afford it.  You are serious.  You are in the game.  Aside from that, most if not all sellers are requesting it.  So before you search, pre-approve with a well known lender.

Open your email and look at all those listing links that you receive daily!  I know you think I send them, but no, they are automatic.  Look at them--I may not have time today, and if you like one or two CALL or email me.  We can go see it asap if it's a hot opportunity.  Stay in close contact and use your technology 'tools'.

Ready, set, go.  Please be ready to pull the trigger when you find that house. Know what you do want, what is a show-breaker, and what is okay--sort of.  You know, figure out what you want so we don't waste our collective time looking at things that you are not going to be interested in.  Pool-great, right it down.  2-car garage, okay-write it down.  And as you are writing it down I am as well--so, bottom line. Ready, set, go!

Highest and best.  We have heard this over and over.  'I want the steal'.  Yes, I understand.  However, if it is a property you really want then the offer needs to not offend the seller.  Always go in with your highest and best!  If your highest and best is $50k lower than the listings price, then so be it.  Be aware that you may offend the seller, and in the case of a short sale the lender may counter back.  Be ready to negotiate with both scenarios.  Or be ready to walk away--I too will be ready to walk away:)  In a tight market it is buyer beware--really.

The offer.  With your offer you do want to go easy on the contingencies without giving everything up.  Yes, keep the inspections in--they are important.  Yes, keep the timelines in--important.  Let's not be silly, and let's remember to protect you and your money.  After all buying a home is one of the largest purchases you will make in your lifetime.  Remember, although time is a concern, the greater concern is double checking and then triple checking your gut to make sure your decision is a good one!

Moving in.  Take it from one who has made this mistake--take off the wallpaper first.  If you are going to make big changes try to get them accomplished prior to your move.  Trust me--pink carpet and the wallpaper is just now coming down (thank you honey!)--5 years later.

Have a great night, and if you are interested in anything in Jacksonville FL please call or email me!  Hiring a buyer's agent is generally FREE for the buyer.

Good night, and God bless----

Comments (4)

Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

Good suggestions, thanks for sharing.

Mar 12, 2010 10:36 AM
Sara Woolford & Steve Golson, ALHS
iTexas Realty Co. - San Antonio, TX

Hi Christa-

What a great short list for Buyers.  I love the suggestion to work will a well-known lender.  Sellers and their agents are often uncomfortable with no-name lenders.

--Sara

Mar 13, 2010 03:40 PM
Wally Sears
Residential Real Estate Photography - Jacksonville Beach, FL
Real Estate Photographer Jacksonville, Fl

Christa - I like how you have a photo of one of your listings at the bottom of some of your blogs... I think it adds a "little something"  Nice touch.

Mar 14, 2010 05:38 AM
Christa LaFarlette (la-far-let)
Your Choice Real Estate - Orange Park, FL

Thanks for the uplift!  I know it takes me awhile to get back, but I really appreciate the kind words!

Mar 16, 2010 02:11 PM