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You Should Buy A Home!

By
Real Estate Agent with Keller Williams Select Partners

You should buy a home. That's what you've been hearing from friends and family, right? So, by now you have likely already weighed the benefits and decided that home ownership was the best decision for you. That's a major hurdle now passed. You are focused and certain. Good.

Defining Search Parameters

Almost 80% of all home searches today begin on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. You've probably defined your goals and have a pretty good idea of the type of home and neighborhood you want. By the time you reach your real estate agent's office, you are halfway to home ownership.

How Long Should It Take to Find What You Want?

In seller's markets, often I show only one home. After all, how many homes does one family need? A few buyers will look for years, but buyers who do that aren't motivated. A motivated buyer will find a home within two weeks. Most of my buyers find a home within two days.

Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your agent should preview homes before showing them to you as well.

How Many Homes Will You See?

Studies show that the your memory dramatically improves after consumption of carbs and slows upon consuming sugar. So, layoff the soft drinks and have a hearty meal of carbs before venturing out to tour homes. The average number of homes that I show to a buyer in one day is seven. Any more than that, and the brain is on overload. Therefore, don't expect to see 20 or 30 homes; although it's physically possible to do so, you probably will not remember specific details about any of them.

The "Red Shoes" Experience

Women will relate to this. Say, you need a new pair of red shoes. You go to the mall. At the first shoe store, you find a fabulous pair of red shoes. You try them on. They fit perfectly. They are glamorous. Priced right, too. Do you buy them? Of course not! You go to every other store in the mall trying on red shoes until you are ready to drop from exhaustion. Then you return to the first store and buy those red shoes. Do not shop for a home this way. When you find the perfect home, buy it.

How to Rate Inventory

  • Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
  • Take copious notes of unusual features, colors and design elements.
  • Pay attention to the home's surroundings. What is next door? Do 2-story homes tower over your single story?
  • Do you like the location? Is it near a park or a power plant?
  • Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.

View Top Choices a Second Time

After touring homes for a few days, you will probably instinctively know which one or two homes you would like to buy. Ask to see them again. You will see them with different eyes and notice elements that were overlooked the first go-around.

At this point, your agent should call the listing agents to find out more about the sellers' motivation and to double-check that an offer hasn't come in, making sure these homes are still available to purchase.

Making the Selection

I'll let you in on a little secret. I generally know which home a buyer is going to choose, and I suspect most other agents operate the same way. It's an intuition. But I make it a practice not to steer buyers, and I insist that buyers choose the home without interference from me. It's not my choice to make.

Real estate agents are required, however, to point out defects and should help buyers feel confident that the home selected meets the buyer's search parameters.

Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Good information. I like that "red shoes" experience. It is true when house shopping!

Jul 07, 2008 12:45 AM
Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

And now is a great time to purchase while sellers are motivated and the market is slower than normal.  You can often negotiate a better deal through a skilled buyer's agent than when the market is hotter and sellers are NOT as motivated.  Now is also a great time to get into investing in real estate since sales are down and many more people are having to lease.  The rental rates are going up while sales prices are going down!

Jul 07, 2008 12:46 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Have you checked their astrological sign ?  Cancers decide....Libras have to weigh everything...Some like water....mmmm....also feed them cheese and crackers on the tour...lotsa a carbs, great decisions !

Jul 07, 2008 12:50 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Nice post evry potential buyer should read it. It is the anatomy of a home buying experience

Jul 07, 2008 12:51 AM
Jenniffer Lee
RE/MAX Complete Solutions - Boca Raton, FL
Broker/Owner/Realtor at RE/MAX Complete Solutions

You are right with the red shoes.  Don't keep shopping if you find the perfect one because when you return to purchase the one you liked, someone else may already have bought it.  I see this all the time.

Jul 07, 2008 01:02 AM
Jack Tapping
Fizber - Chicago, IL

 Finding an ideal place to live is not as easy as it may seem. You need to be sure about what you would like to see in your future house and how much you can afford. For buyers with children it is sometimes difficult to find a good school nearby. Recently i have found this service http://schools.fizber.com/ that can help visitors to explore the school system in the neighborhood.

Jul 15, 2008 01:19 AM