Wednesday, February 28, 2007

Home Buyer Tips

Tips for buyers
Now is a great time to buy a home. Interest rates are low, and buyers have more properties to choose from, so there’s room for negotiation. If you play it smart, it’s the perfect time to buy that house you’ve had your eye on. Here are a few strategies for getting the most for your money.

Know the local market
With the housing market in transition and prices fluctuating, it is important to understand what’s going on locally. Prices in some neighborhoods are being reduced; others are as hot as ever. I can do a market analysis of the communities you’re interested in and provide you with information on homes that meet your criteria. I will also look at comparable residences to determine the appropriate offer to make to the seller. In a changing market, it’s important that the data you look at is current. Properties that sold six months ago may not represent the value of a comparable home on the market today.

Identify what you want
The good news about a moderating market is that there are more homes to choose from. Buyers have the luxury of being specific about what they’re looking for. Now is the time to draw up your Dream Home wish list.

Be ready to buy
While more homes are on the market than a year ago, attractively priced homes are still selling quickly. Make sure you’re preapproved for a mortgage and have a home inspector lined up. If you find a home you just love, don’t wait too long for the seller to reduce his price. It’s better to get a fairly priced deal than miss out on the home of your dreams.

One of the strongest benefits I offer buyers is my ability to negotiate on your behalf. Depending on the local market, we may be able to get price reductions and other concessions from the seller. I’ll work with you to identify areas in which we can negotiate so you get the greatest real estate value for your dollar.

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