Working with a real estate agent effectively to buy a home

A good real estate agent can support and assist his clients, but how they handle the process of searching for and buying a home will affect how helpful he or she can be.

 

Taking advice

People may find it hard to trust in their agents' judgment, since they are the ones who will be buying and living in a home once the decision is made. However, agents are professional experts who commonly have years of experience, not just in their job but in a specific housing market.

Talking over what the buyers want and walking through homes that are not quite right may require patience, but ultimately can help the agent and buyers refine their search so that they know what to look for. Once agents have a specific concept of the type of home to find, they can better serve buyers.

 

Sometimes, buyers may be attracted to characteristics of a home that does not meet their needs. If an agent's advice conflicts with their own instincts, buyers may wish to re-evaluate what they are looking for and ask themselves whether the property has those characteristics. If not, the agent may have saved them from making a mistake.

Trusting an agent

Trust applies not only to judgments on whether a property is right, but also on price and other factors. By the time negotiations are beginning, the homebuyers should have had a chance to develop trust with their agent.

When the time comes to make offers, homebuyers should remember that their agent has experience in both the negotiation process and, generally, the local real estate market. This makes him or her better suited to evaluate what is a fair price than most consumers. While the agent cannot make all negotiation decisions for his or her client, the point of hiring an expert is to benefit from his or her advice.

 

 

Written by Coldwell Banker


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

2013 Strategies For Softer Housing Markets

Across the U.S., housing is currently at a five-month supply. That's considered a healthy seller's market.

But when supplies build to seven months or more, the advantage moves to the buyer.

If you're a seller in a market that was hot but now not, you may be wondering what went wrong. Should you pull your home out of the race? Not if you want to sell.

Markets are constantly in motion even when they appear to be resting. The retreat in sales volume or sales prices may be short or it can last for a long time.

Most factors that impact housing are out of your control. You can't influence mortgage interest rates or create jobs that bring down the unemployment rate. But there are things you can do to help your home sell in a softer market.

Don't panic

Ask your real estate agent to give you a market analysis that will help you understand three-month to six-month trends. You'll be better prepared if you know that it may take longer to find a buyer.

Compete on condition

The closer to move-in ready you can make your home, the better. Put your home in clean, white-glove condition and stage it attractively to show off its best features.

Plan for demanding buyers

Buyers may ask you to pay closing costs, or to provide a home warranty, or make other concessions. Your real estate agent should be able to tell you which incentives may work with your listing. So be prepared to leave the washer/dryer, stainless fridge or your favorite chandelier.

Price reasonably

If you want a quick sale, price below current comparables. If you can afford to wait longer to sell, price at current comparables. Whatever you do, don't price above the market.

Expect low-ball offers

No matter what price you put on your home, you are bound to get ridiculously low offers. That's the culture we live in. Encourage your agent to answer politely and to provide a copy of the comparables so the buyer can see you've priced to be competitive in the current market.

One thing you can count upon is that a softer market will get firmer. All it takes is home buyers willing to invest. By giving them a great home at a great price, you'll make it easy for buyers to say yes.

  Written by Blanche Evans


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

What You Need to Know About Buying a Home During the Holiday Season

If you’re house hunting over the holidays, you’re likely a serious buyer with an immediate need. Perhaps you have to relocate for a new job opportunity, or there’s been a change in your personal life? Regardless, while you may assume it’s not an ideal time to be looking — namely because there isn’t much to look at — there are some advantages to buying this time of year.

Less competition
Let’s start with the obvious one: less competition. This lowers the chances of multiple offers and bidding wars (something we saw a lot of last spring/summer), and should translate into a bigger discount for you. Know your market! This is where sites like Zillow come in handy. Start your research below for comps in your area and to see what homes are selling for.

http://www.livinglaketahoe.com/

Serious home sellers
Why would sellers pick such an inconvenient time — while everyone is busy entertaining family and friends and enjoying the spirit of the holidays — to list their properties? Probably because they need to sell and may feel compelled to do so before the end of the year for tax purposes. What this means for you: less hassle when it comes to negotiating; a greater willingness, on the part of the seller, to agree to concessions; less chance of the seller waffling; and greater respect for your offer, even if it’s a little lower than the seller was perhaps expecting.

Faster mortgage approval
Lenders aren’t as busy this time of year, and less volume could mean faster approval. Some lenders might even be willing to reduce fees during the off-peak season in hopes of gaining your business. Regardless, don’t just go with the first lender who comes along. It pays to shop around. Get multiple quotes and check out lender reviews on Zillow Mortgage Marketplace.

Greater affordability
Sure, home prices have been rising, but they’re typically lower in December than during any other month (so you don’t have to be as aggressive with your initial first offer, compared with buying during peak to high season). Zillow’s third quarter Real Estate Market Reports showed home value appreciation slowing. As we enter the slower home shopping season many overheated markets are moving away from bubble brink and ultimately becoming more affordable than they have been historically. If you want to take advantage of low interest rates, the time to act is now.

Written by Vera Gibbons

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com