2 Things Buyers Fear Most!

No matter what type of market we're currently in, whether it's a buyers market, OR a sellers market, ALL buyers fear the same two things: paying too much for a home, and fear of not viewing all available homes.   Here's how your buyer's agent can help alleviate both of those fears...  

• Get in front of a lender!  At least twice a week, a perspective buyer contacts me about purchasing a home, but doesn't want to meet with a lender.  There's simply no getting around it (unless you're paying with all cash), but you must know where you stand financially so that you can establish your target price range.  Generally, the lender will approve you for a lot more than you're willing to spend.  Lenders don't take into account your morning lattes, utilities, daycare, insurance.  Paying too much doesn't always mean paying more than market value.  A good buyer's agent and lender will help you review your monthly expenses and you will ultimately have to determine your comfort zone for your total monthly payment.
• Determining the market value prior to making an offer.  More often that not, Zillow will get it wrong.  You can check the county public records to find out what a seller paid, but that's still only one piece of the pie.  A buyer's agent can research the recent sales, taking into account the location, subdivision, neighborhood amenities, and other local information that's not privy to automated home estimate websites, and determine if the listing price is above market value, right on target, or a steal of a deal.
• Get listings automatically.  I'm busy selling, you're busy working...we're all busy.  No one has time to sit at the MLS 24 hours a day waiting for homes to come on the market.  With automated email alerts, you can receive an email whenever a home is listed within your desired subdivision, city, or zip code.  Over a period of weeks, you'll likely witness price reductions, homes that come back on the market due to a failed transaction, and the offering of more incentives.  The alerts keep you informed of the changes in the marketplace.

As a buyer's agent, my team and I check other places for listings outside the MLS.  We stay on the email alert lists of top area builders, top selling agents who alert us prior to putting homes on the market (creating a silent market), and local banks and real estate owned institutions who carry foreclosure and short sale listings.   Remember, the only true way to determine that market has changed to a sellers market, is when the prices start to go back up.  Keep your real estate ownership goals long-term instead of short-term, to fully realize the financial benefits of owning a home.   If your're looking for condos, townhomes, or single-family homes for sale in Alexandria, we'll be around this week for your real estate needs.