As we approach spring, the real estate world is buzzing and people are starting to get anxious about all the possibilities on the horizon! (And when I say people, I mean realtors and of course, buyers!) Buyers love Q2 because new listings are abundant, the weather is great for looking at property, and the competition is fierce. Maybe not everyone has a competitive spirit when it comes to home buying, but there are lot's of buyers out there, and it's best to be prepared. I love working with clients who are eager to go out and get the result they want. So, for those of you who want to create your home buying destiny, here are some quick tips & tricks to find amazing deals in 2020. Good luck!
1. Look at a lot of deals.
I know this isn't what you wanted to hear. But the truth is, you have to put in the work to get the result you want. Nobody ever won an olympic medal off the sofa, am I right? So pull up your knickers and get moving. The more you see the better chance you have to find something amazing! And no, Zillow doesn't count. You have to get out to these properties in person to really understand their value.
2. Be first... or last!
It's true that when an attractive property comes on the market, there tends to be a mad rush for first offer in. This can give you a leg up on other interested parties because of sellers' excitement and eagerness to jump on the first opportunity presented. However, if you don't make it to first call, you have another unique chance to come in booming on the back end. Your real estate agent will be able to feel out the situation and get a sense for where you might be able to beat out other offers. Be bold and move in strong if it's a property you can't live without!
3. Ask your real estate agent to approach homeowners whose property isn't actually for sale.
Yes. Ok, this sounds a little presumptuous, right? That's because it is definitely tricky. BUT, if there is a property you love which isn't actually for sale it is worth a try. You wouldn't let the love of your life walk away without that last ditch Hollywood attempt to chase them down at the airport... So take the same approach to your real estate search! With passion and perseverance, you never know who might be ready to hand you the keys to your dream home.
4. Know the market, and the neighborhood!
Make sure you know the comps before you make an offer on a property. If you allow yourself to get sucked into a sexy new kitchen or outdoor entertaining area without taking a hard look at the surrounding properties, you may end up overpaying. Your real estate agent should be able to provide you with a detailed CMA, and it is worth reading, trust me! Also, take a closer look around the neighborhood to find out if the seller is asking a fair price based on things like amenities, HOA, and what your new neighbors have to offer.
5. Choose a a trustworthy and passionate real estate agent, especially as a buyer.
You may feel as though you have a good grasp on the real estate market and that you can probably manage a transaction on your own in this DIY era. "I mean, how hard can it be?" There are lots of reasons not to represent yourself in a real estate transaction, but for you buyers, the main one is that you aren't paying anything to hire a professional to manage this huge, important life event for you. The commission for both agents will come from the sellers side of the transaction, so it is in your best interest to take advantage of this "free" service while you are on the buying side of things. And most importantly, real estate agents are trained and contracted to negotiate on your behalf, to get you the best possible price for any given property!
There you have it. Go out and get yourself the best darn deal you can!
...or hire us to do it for you ;)