The real estate market changes frequently; it seems that something happens daily to affect it. Mortgage interest rates, home prices, inventories of homes for sale – all affect the real estate market, as well as other complicated factors to do with lending and regulations.
Fortunately, best practices don’t change. Consumers may not know how to buy a home under today’s conditions. Whether it’s a buyer’s market, seller’s market, or something in between, these tips will help you buy a home in any market.
- Don’t try to time the market. Purchasing a home is a long-term investment. You are going to live in this house for several years. Don’t rush to buy because you think prices are going up, or put off buying because you think prices are falling.
- Do work with a good Realtor®. A knowledgeable real estate professional can help you get a good house at a fair price, instead of overpaying for a home you don’t like, or not finding a property at all. Your Realtor® knows the market and can help you find the best options in your price range. They’ll also help you structure your offer to make it attractive to the seller.
- Don’t to get too emotional about the process of buying a home. It’s easy to lose your cool if the property you love is sold before you get a chance to look at it, or if someone outbids you for your dream house. Remember that there are always more properties out there, and that you will find one that is right for you.
- Do make your best offer. A lowball offer on a property simply wastes the seller’s time, and your own. If you are serious about buying the house, put your best foot forward and make an offer that reflects the value of the home and the neighborhood.
Contact me today for an appointment to discuss the property you’re looking for. I can guide you through the buying process and help you end up with your dream home. In any real estate market, home buyers could use a helping hand.
Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.