Being In the Market

When we buy a new car or perhaps a new TV, typically a person would shop around and start looking for something that matches what they are looking for specifically. We spend time reading about the type of car or TV that we are looking for and how to go about getting the best deal. And we usually do - because we were "IN THE MARKET".

We didn't find a good deal on the car or TV because we just ran across it randomly. We were looking for that specific item, and when it came up as a good deal... BOOM! We snatched it up instantly. We knew the value of the product when the great deal came up.

So WHY do people act differently when buying real estate?

What I mean by that is people seem to keep putting of looking for a home. Here are some of the things we hear:

-I'll start looking when...

-I'll buy when interest rates start going down...

-I'll buy when interest rates start going up...

-There are too many homes for sale...

-There are too few homes available...

-The economy is bad...

-There are no good deals...

As you can see, there are countless excuses that we can give on why NOT to buy a home or make move. And maybe they are valid for you.

BUT THE TRUTH IS.... There are ALWAYS good deals in EVERY MARKET.

Repeat: There are ALWAYS good deals in EVERY MARKET.

Why is that? There are always reasons to create a distress sale or situation where you can find the "perfect property" at a discounted price.

Some examples might be: death, divorce, foreclosure, a landlord tired of renting, and the list goes on.

HERE'S THE BUT: You can't find these "deals" if you are not IN THE MARKET. No one ever won a football game by sitting on the side lines thinking about "maybe" getting in the game. It doesn't work that way.

You have to start by writing down what you want in a home. List all the features you would like to have. THEN, decide at what point does something become a good deal?

What do I mean by that... well if you could by a home for 5% off the true market value would that be a good deal to you?

How about 8%? 10%? That's for you to decide.

Then, get with a REALTOR and talk with them about your criteria and what you are looking for in a home. The REALTOR can then enter your criteria into the MLS(all the listed homes) and have an email sent out AUTOMATICALLY when a home comes on the market that matches your EXACT criteria.

That is BEING IN THE MARKET, not sitting on the sidelines with the rest of the crowd. Now is the time when smart buyers pick up good/great deals on homes and profit greatly when the market accelerates in price.