Today's real estate market is unlike anything we have seen in more than 20 years. There is a huge inventory of homes on the market, you have choices between short sales, bank owned properties, and desperate sellers. With historically low interest rates to help you qualify for your dream home, I am finding many potential buyers overwhelmed by the choices so here are 3 simple tips to help you. Your dream home could be on the market right now.
Tip #1: Know what you want before you start
One of the quickest ways to become overwhelmed is to start looking at every home on the market. There are far too many to choose from and before you know it, you will find one that is emotionally appealing. You might get caught up in the excitement of the moment and make an offer on a home that you might not have chosen if you had pre-planned what you wanted. If you are a couple you should sit down with your significant other and make a list of 'must have' and 'would like to have' in a home. Combine the lists and come up with your 'best choice' home. Don't look at homes that don't meet your criteria. The Multiple Listing Service websites can get very specific and you can narrow your search saving you wasted time and money looking at homes that won't work for you.
Tip#2: Search the web
Today's real estate market is getting very 'tech' savvy. Almost every home on the market today will have pictures or a video tour on the web. Realtor.com is a fantastic website with features to help you narrow your search. By spending a few minutes each evening you can 'preview' your favorite homes, a convenience which would have been impossible just a few years ago. Use tools like Google maps and mapsexoffenders.com to get a 'bird's eye' view of the neighborhood. You may find the perfect house and find out that it is in a criminal hot spot surrounded by sex offenders.
Tip#3: Find a knowledgeable agent
Some people may be reluctant to hire an agent to help them find a home. With the ability to search homes on the web and narrow your search, you might be tempted to go it alone. I would discourage you fro
m this type of thinking. A knowledgeable agent can help you determine the right offer to make to have the best opportunity at a successful transaction. They can ensure you don't run into the dangerous pitfalls in the paperwork. Transactions are more complicated than ever, making a mistake on an offer to a bank can cost you. They may often know of the best values on the market because they see so many more houses up close and personal. Keep in mind that not all agents are created equal. It may not be in your best interest to hire a 'friend' or a 'family member' who dabbles in real estate. Seek out the best agents in your area. There is a reason they are successful.
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