Great New Years Resolution!
Buyers: Resolve to Start Feeling Out the Market Early
You may think you only need to go to open houses once you’re ready to buy. But in reality, a buyer needs a couple of months learning the marketing, understanding home values, the prices per neighborhood and the market in general. Going to open houses in the neighborhoods where you want to buy will allow you to start feeling out the market. It may also be the best way to meet your future real estate agent. Many agent/buyer relationships are forged at open houses.
Once you engage an agent, you may make several offers before you get into your dream home. Having your agent along for the ride will allow you to compare and contrast homes you’ve visited to the home you eventually buy. The homes you see and your experience feeling out the market will serve as the building blocks toward becoming an informed buyer and making your best offer.
Sellers: Resolve to Understand Your Timing and Exit Strategy
One of the biggest stresses on a seller is trying to plan a purchase and a sale at the same time. Can you afford to close on the new home before selling? If so, for how long? Do you need to sell the property first? If so, will the potential sale price support a home purchase in the neighborhood you want to be in? If not, what other areas should you be looking in? Selling and buying at the same time brings up all kinds of financial, emotional and physical stress.
Uprooting yourself from your home is not easy. What if you have to go into short-term housing? How will you get that set up and how long would you need to commit for? If you can afford to purchase and then sell, do they need to happen quickly? Are there things you can be doing in your current home so that once your new home closes, you’ll be ready to list? It’s a lot to think about and plan for, and it helps to have a strategy in place well before you have to take action.
Please give us a call to speak to one of our agents today!
Scott Myers, Century 21 Scott Myers Realtors