3 Home Buying Tips To Keep in Mind
Interest rates remaining at historical lows is may be one of the few factors still favoring home buyers. With real estate inventory numbers flat and home sellers still in a ‘seller’s market’ mindset, an efficient and well-informed home buying strategy is crucial to your success. It’s important that every move you make, every piece of the puzzle is the right one. The wise tips in the video below are spot-on. If you have any additional questions or concerns I’m always happy to help. Give me a call: 602-999-0952 or eMail me: golfarizona@cox.net.
For your convenience there is a transcript directly below the video.
Video Transcript: 3 Home Buying Tips for Today’s Market
Welcome to Today’s Home Update, I’m Ellen.
If you’re looking to buy a ew home this year, be it a downsize, vacation home, downsize, or your very first house purchase, follow these three tips.
- Check into reality – Make a list of things that are absolutely essential: a specific number of bedrooms, close proximity to work or your child’s school, a decent size yard. Once you know what you need, start looking at what sold in the last 6 months that fits your bill. Figure out if you can afford a similar price tag. If you can’t it might mean waiting, or reassessing your needs.
- Get pre-approved, not pre-qualified. Many people get confused between pre-approved and pre-qualified. Getting pre-qualified means that a bank has qualified your for a mortgage based on information you provided but they have not actually checked up on your credentials. A letter of pre-approval means that a bank has thoroughly checked on your financial status and is ready to give you a loan. This holds more weight in terms of buying quickly.
- Don’t low-ball. Now that we’re seeing inventory shortages across the country, and more and more buyers are entering the fold, low-balling most likely means you won’t land a deal. Instead, present a fair offer that’s in your price range but still leaves some negotiation room on both ends.
Thanks for watching today’s home update. See you next time.
Additional Helpful Information for Home Buyers
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Help for Home Sellers
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Ever wonder what Closing Costs you’ll be responsible for when you buy or sell a home? Check out our infographic and article:
Who Pays for What?
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Offers and Agreements 101
