In part one http://activerain.com/blogsview/294516/Are-you-confused-about we talked about renting vs. owning and the benefits of owning.  In part two  http://activerain.com/blogsview/298104/Are-you-confused-about we touched on some different types of mortgages that can save you money.

Today, I want to touch on 8 tips for buying that dream home. You all have heard the news reports about how bad the market is and that now is not the time to buy.  I say buy now!  You can get some incredible deals and be in your new home within months.

If you are still trying to make up your mind on whether to buy now or not let me clue you in on something.  While you are making up your mind all those other fence sitters who have been watching the news and following what is happening in real estate have jumped off and are starting their search for their dream home.  So, now you may be facing some serious competition for those really great properties. 

However, just because there are other buyers in the market it doesn't mean you can't come away with your dream home  at a really good price.  But to be successful at buying in today's market you are going to need help.

Your first move is to know a few inside tricks.  The following tips should improve your chances of getting your offer accepted once you find that dream home.

Get Pre-Approved:  To be pre-approved for a mortgage loan is your first and best move.  You will go through what amounts to a mini-application process (paperwork, credit check, etc.) prior to shopping for a home.  Pre-approval is more effective than pre-qualification, which only gives you a rough idea of the amount a lender will lend you -- assuming no hang ups in the credit and income checking process.  When you are pre-approved, it's like carring around a suitcase full of money.  In the eyes of the seller, pre-approved makes you a very desirable "cash" buyer.  That's a real advantage over another buyer whose financing is uncertain.

Beat the Competition to New Listings:  Once we know your specific price range and tastes, we can regularly do a computerized market sweep for new listings.  I'll send you a hot list of attractive properties as they come on the market.  That way you'll get a jump on other buyers before the new listings are advertised or holding open houses.  Timing can be everything in today's market.

Do Your Research:  Make yourself a "value expert" by investigating local properties to get an idea of price points, listing-to-sales-price ratios, hottest areas, and best places for a bargain.  Once you know what your money will buy, as your buyer specialist, I'll add our up-to-the-minute knowledge of what comparable properties sell for in specific neighborhoods and what impact specific features have on price.  This should guarantee you the best price and terms.

We Can Present Your Offer In Person:  Nobody wants their offer languishing on a fax machine in the listing agent's office while other buyers are putting offers on the seller's kitchen table.  When the situation calls for that personal touch, you'll gain an advantage by having me present your offer in person, plus we may pick up critical intelligence on any competing offers by being on the scene.

Prove You Mean Business:  There are few better ways to show you are serious about buying a property than by including a good faith deposit along with your offer.  A competitive deposit could be as much as 5% of your bid price to be sure it gets the seller's attention.  In today's market this plus the pre-approval letter will get the seller to take you very seriously if there are competing offers on the table.

 Don't Lose Your Head:  Just because the market is active doesn't mean you should be willing to pay any amount to get your dream home.  Sure you may have to offer something other than the asking price, such as paying some or all points, inspection fees, closing costs, or offering a settlement date that fits the seller's timetable.  But don't go crazy.  Remember, you may have to sell this home one day, and overpaying now will make it harder to get your value back when you sell.

Keep It Simple and Clean:  Make sure your headache-free contract itself isn't messy or overly cluttered with unnecessary contingencies, especially repairs.  Keep contingencies to a minimum.  Better yet, offer to be helpful, such as order an inspection in 48 hours or be willing to take care of any required local certificates such as the termite inspection.  Be flexible.  A buyer who will accommodate a seller's needs is a smart buyer.

And Lastly....

Don't Be A Lone Wolf:  What you need most in today's market is experienced professional guidance.  As your neighborhood real estate specialist I can help you get pre-approved, find a prize property, and negotiate the best deal on your dream home no matter how heated the competition.

Call me today!  Linda Futral   RE/MAX Today 678-633-0458