Today, we'll discuss how to effectively and efficiently start shopping for your next home. After you're pre-approved and have your criteria figured out, what do you do?
There's nothing wrong with taking a Sunday afternoon drive in an area where you want to live and start calling the Realtors on the For Sale signs. However, that's not the most effective way to go about your home search, and with the price of gas these days, it can be very costly.
Most people begin searching online, using sites like Zillow or Trulia. While these sites provide a lot of information, I recommend using your Realtor's home search site. The Realtor's site will have a live feed to the listing service.
Other sites just give you a snapshot of homes on the market at one point in time, and don't update often enough. Some properties listed on Zillow or Trulia actually sold two and a half years ago! If you want to use the most updated and accurate resource, use your Realtor's website.
When looking for a home, you also need to know if it's a buyer's or seller's market. It's extremely important to understand the dynamics of the market you're in so that you know what to expect in your own transaction. A seller's market has low inventory, and the seller has more power. A buyer's market has high inventory, and the buyer has more control of the transaction.
The last thing I want you to keep in mind is to never write an offer until you see a market analysis from your agent. Don't assume that the seller has priced their home based on current market dynamics. Some listing agents go along with whatever the seller wants to price the home for just so the agent can get a listing. You want to make sure the home is priced correctly so you don't overpay.
If you have any questions, give me a call or send me an email. I look forward to hearing from you!
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