How to Know Your Getting A Deal

By
Real Estate Agent

     With the ups and downs of the current real estate market;

(1) How do you know when to buy?

(2)Or if you are getting a good deal?

 

These are the 2 questions I was recently asked by a client of mine. I thought this was such an important question; I have decided to address this question to everyone who would like to know.

 

(1).  LETS BE HONEST! You will never know exactly when to buy. You will only have an estimate of when to buy, on a personal level. Are prices attractive now? Definitely, will they get better? probably. I personally believe interest rates will go up within the next year. If you look at blogs of our website I have clearly demonstrated how it is smarter to buy a little more expensive as long as you get a lower interest rate. It will pay off in the long run. See the details at www.LuxurySalesGroup.com . 

Buying a home is a very personal decision and I recommend that people who want to live in a home, NOT FLIP IT, buy within the next 6-12 Months. It will pay off for you in the long run. There will be a mini frenzy of buying, once people realize they are missing out on low prices. Buy before then so you still a great bargaining chip.

(2).  Everyone gets a little rush or a good feeling when they get a deal, But you have to do the numbers to know that you are getting a good deal. A lot of Realtors do Market analysis of homes when they are helping someone sell their home. I personally do this for my clients who purchase homes also. I provide a detailed report of exactly what homes have sold for in a specific area so you know exactly how much people are spending to purchase similar homes. My goal is to try and break the mold by getting the a discount on the homes anywhere between 5%-20%, depending on MANY things.

 

I encourage feedback. If you have any questions about my posts or blogs in general, contact me anytime at:

Anthony Dash

Realtorpro@aol.com

www.LuxurySalesGroup.com

240.353.3163

Comments (7)

Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals

I always tell my clients that they will never buy at the bottom and they will never sell at the top of any market. Buy what you can afford, enjoy it and don't worry about what it's worth ever again until it's time to sell.

Sep 27, 2008 02:24 AM
Lewis Beynon
CENTURY 21 Triangle Group - Raleigh, NC
Triangle Real Estate 411

A "good deal" is only in the eyes of the beholder.  What I would pay is different from what you would pay.  If I paid $200,000 for a house you may be willing to pay $220,000.  So for you, is $220,000 a bad deal?  Of course not, to you it could have been a steal!!!!  I found that most people can't accept this concept and can't get beyond being able to avoid buyers remorse.  Thanks for the blog Anthony.

Sep 27, 2008 02:36 AM
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Anthony;

I always tell my clients to buy what you can afford and everything will be ok.

Sep 27, 2008 03:53 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Thanks for your post -- timely information, and good advice.

Sep 27, 2008 04:28 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

What you say makes a lot of sense.  "Timing the market" is nearly impossible except in hindsight.

Sep 27, 2008 02:32 PM
Tony Tony
Potomac, MD

This is all great feedback and I thank you very much for all of your additions

Sep 28, 2008 04:09 PM
Richard Ives
Chicago, IL

Great post Anthony.  Have a great week.

Oct 07, 2008 08:48 AM