Carlsbad home buyers. You are in for a treat…buying your first, or a new, home.
The inventory is great, interest rates are historical (well, almost), and this may be a terrific time to buy, unless you are seeking to purchase and sell in a couple of years and make a killing. If that’s your plan, well, IMO I would not buy.
But for many Carlsbad home buyers, first time buyers or experienced, this could be a terrific time for you. So are you prepared to take on another PART TIME JOB?
What? You mean I am going to have to work at buying a home? I thought this was a buyer’s market. I thought buying a home would be a breeze. Sellers need to sell and they NEED buyers. I am in control here.
Think again, buyers.
If you are not prepared or able to spend many hours per week on the following and more, well, then, you are in for a big surprise:
- Getting to know the market and becoming a knowledgeable consumer
- Reviewing all the listings in your price range that come on the market
- Looking at homes that meet your criteria…all of them
- Understanding All the options – traditional listings, FSBOs, short sales, pre-foreclosures and foreclosures, REOS (Bank owned properties)
- Gaining a good feel for the neighborhoods that suit your lifestyle and interests and ruling out those that you would NOT consider
- Learning about loan programs that can work for your personal financial and credit situation, and understanding the financial responsibilities you face (and the costs)
- Asking all the questions about the buying process including the paperwork that is required
- Understanding the options open to you vis-à-vis your needs and wants
Buying a home is, at least, a part time job, and for some maybe even a full time endeavor. On top of whatever else you are doing. There's nothing magical about it.
And once you DO find the home you want to do there’s a ton of stuff you will need to do before it becomes YOURS.
If you are thinking you can do this when you have a few moments here and there, or when it suits YOUR schedule, in my opinion you are in for a rude awakening. You won’t be successful.
You will, or should, spend hours on the Internet. You should know all the homes that come on the market in your price range, and what is happening in your market niche. You should spend significant time gathering information, talking to your agent and your mortgage broker and asking lots of questions, touring homes, visiting open houses, learning all you can about the areas you are considering, and ruling out those that will not work.
Do you want to be successful at buying or home or just play a game? It’s your choice.
It’s a part-time job, or better, if you go about it correctly and with a commitment to being successful in today’s market.
If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360
or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler Carlsbad Homes and Real Estate Tidbits