When you're shopping for homes, how do you know when it's a good time to make an offer? Here's a couple of tips and steps you can keep in mind as you house shop.
First thing to do is sit down with a nice cup of coffee and ask yourself why you really want to move. Are you motivated? Do you have something to sell first and what is the cost of selling that property? Will your economic, social or life position improve as a result of your move ie. get closer to work, be in a neighborhood with people like you for example. Depending on the type of person you are, if you draw two columns on a piece of paper and label it plus and minus you may begin to see the clearer picture.
Ok, so looks like you answered "yes" so read on.
Get the formalities out of the way. Get prequalified by a mortgage professional so you don't waste your time looking at things you can't afford. Do it online or talk to someone in person. Then, go to some open houses in neighborhoods you like and meet some realtors. It's likely since they're local that they'll know the neighborhoods well. Realtors have previewed lots of homes and probably know floor plans that match your needs. Try to find an agent that's not pushy and provides lots of information. Ultimately you want someone that will guide you, not convince you to buy a home. Suplement your open house tours and look on line at CaMoves so you can target price ranges of neighborhoods or go to the open house section of CaMoves, Open House.com or SignOnSanDiego.com.
Once you've identified some towns or neighborhoods you like, set yourself up or have an agent set you up on an "automatic" email search targeting only the parameters of properties you're interested in. Our MLS here in North County San Diego can target over 900 different search fields so if it's out there you'll see it within 24 hours of a new home coming on the market or having changed it's price. Identify some homes you'd like to see and call your agent to go see them. It's important to keep your logic and emotions in check through this process.
There's no such thing as a perfect house. Every parameter your looking for isn't likely to appear in the same house and you should be aware that you may have to compromise on some issues. Pull out that paper again and write down your priorities so you can look at it as you walk through properties. Believe me, I've worked with enough buyers to know that many times those priorites go right out the window because their emotions can take over easily.
There are many different personalitiy types and that's why it's important to have an agent who can help you keep yourself in check by acting as a sounding board. Things like whether or not the home may be easily resold later because the floor plan is friendly to the most buyers is important. Comparables (what similar homes have sold for) in a neighborhood play into the equasion too. There's no rules other than to shop smart, get lots of information and find an agent you trust. Need some other tips or have a question about the process? Email me or leave a post and I'll be happy to help you as best I can.
This is some really sound advice.
I know that sometimes buyers have a preconceived idea of what their "perfect" home is, but they don't really know until that magic moment when they walk into a home and you hear the words, "This is it! This is the house."
All of a sudden those priorities can change. It is good to know what you are looking for and you must know what you are qualified for, but be open when looking at homes, you never know when magic can happen and things just click. Trust your agent, if you have a good one, they will know what is happening in the neighborhood and will show you what's out there.
Be open and look for the possiblities.
Great advice San Diego!
Posted by: Nickie | May 03, 2007 at 12:36 AM