I find myself answering this question often. Recently, I was asked this same question by someone at Realtor.com. I answered it & thought I’d share a bit about what I told Realtor.com. I’m not going to sugar coat this. It’s hard to buy a home in today’s market, but not impossible. First you should employ a full time Realtor who understands what’s happening in your area & understands the importance of strategizing. There are several steps which a good Realtor can guide you in…
1) You are ready to get started in the home buying process. Let your Realtor know & they will set you up to receive listings that fit your ideal criteria. They will be able point you in the direction of several lenders. Call me for my list of preferred lenders.
2) Get pre-approved for a home loan. This is the best way to understand how much you can truly afford. This will educate you on what to expect as a mortgage payment.
3) During the pre-approval process, ask your Realtor to send you a list of weekend open houses. I give my clients a stack of my business cards. When you walk into the open house, introduce yourself to the listing agent (but don’t take up much of their time – I can answer your questions) & hand them my card. IF this is the home you choose to write an offer on, the listing agent will be impressed by your real estate etiquette.
4) Get accustomed with what a competitive offer looks like. I have a very special way I like to educate my clients about this. Call for details.
5) You are finally pre-approved. I watch the MLS daily for new listings that fit your criteria. I email them to you & often preview them. I get appointments for us. We look at every home available in your price range/area as quickly as possible. This is the time to get educated. It must be done quickly. There are limited of homes available. Most homes are selling in multiple offers & over asking price. When homes that we have previously seen together sell, I will email them to you to see the final sales price. THIS is a great way to understand the market. Quite often I see a home listed for $799,000 & it sells for $850,000. There is no better way to get a feel for the market, than to see it happen.
6) Let’s start writing offers. Unfortunately, most people in today’s market don’t have the good fortune of getting an accepted offer on the first home they love. UNLESS you understand the market. The offers that are being accepted today are STRONG… with both price and terms.
I analyze every month’s home sales in order to help educate my clients. As such, I’m aware that there are a large amount of CASH buyers in today’s market. Quite often, you will be competing against them. So… how to buy a home in today’s Los Angeles Suburbia Real Estate Market?
STRATEGIZE. An educated Realtor knows how to strategize. I look at each home and find out why the seller is selling. This information is invaluable. Based on the seller’s situation, there are many terms that can strengthen your offer.
Ready to buy a home? Whether you are downsizing, investing, moving up or buying your 1st home, choose ME! I can help guide you into your next home in today’s market.
IF you thinking of selling, it couldn’t be a better time. Call for a complimentary marketing analysis.