The Los Angeles Times just published some valuable information for prospective home buyers. The tips are worth adopting in the search for that dream home.
Once a buyer has made the decision to initiate the search for their perfect home, consider it a priority and a commitment. A quick way to ensure less than stellar service from your agent is to make comments such as "If you ever see a house that has....", "I am in no rush..." or "I don't know where I want to live, but here is a 10 mile radius to search...". To a Realtor this translates to "I am not really ready to buy." An enthusiastic buyer with specific time frames and needs will bring out the best in their Realtor.
In a market with extensive inventory, a buyer can be easily overwhelmed with the number of potential homes to view. A list of "musts" and "wants" will go a long way to provide your Realtor with information that will narrow down the showings to homes that will really fit the buyers needs.
In a market where a foreclosure rate of 3% leads to a 7% increase in crime, knowing the neighborhoods and the niches within the neighborhoods becomes critical. Work with a Realtor who specializes in the area in which the buyers want to live. As is always the case, real estate is a very local business. Knowing the nuances of that neighborhood is good information to have.
It is a repetitive quote, but it particularly true right now. There is a widespread thought that interest rates have hit their all time low and are already starting to climb. Inventory is great, with lots of selection. Now is a great time to buy...and commit to that purchase!