Is it time to start looking for a new home? Prices are down, interest rates are down and sellers are scared. This may be the perfect storm. Remember what Warren Buffett stated, “be fearful when others are greedy and be greedy when others are fearful.” Everything moves in cycles and the blood in the streets won’t last forever.
Finding a home has never been easier. The internet has made it very easy for home buyers to find properties for sale. In the old days buyers would have to search for home via the newspaper, real estate magazines or by having their Realtor send them printouts of properties. Now a home buyer can see what is for sale 24 hours a day 7 days a week. Photos, virtual tours, neighborhood descriptions, maps and property information is at your finger tips. Here are 5 tips to help you find your next home:
1) Surf the internet – If you want to view virtually everything for sale then hop on the internet and scour your local real estate websites. In my town a buyer can view thousands of Sarasota homes for sale within seconds. It is so easy to stay on top of what is available for sale.
2) Hire a Real Estate Agent – A knowledgeable Realtor is worth their weight in gold sometimes. Instead of going through the whole learning curve of the real estate market and home purchase hire a terrific Realtor. they are normally compensated by the Seller so you do not have to pay them. Find an experienced agent to help you find a home. They can save a great deal of time and energy.
3) Establish a budget – too many go running out to look at homes before they figure out what they can or want to afford. If you are only able to purchase a $200,000 don’t go looking at homes for $400,000. You will only be heart broken when you fall in love with that house you can’t buy.
4) Sit down with a lender – Make an appointment with your bank, mortgage lender or broker. Many people assume that they can get financing when they really cannot. Five years ago just about anyone get a mortgage. Times sure have changed. Today you have to prove income, have reasonably good credit and a steady history of both. There are exceptions to this. Banks wants to lend money but they just want to make sure that they are going to get it back.
5) Make a list of wants/needs – Before you start your real estate search make a list of all of things you need and want. Do you need 4 bedrooms? A swimming pool? Large yard? Certain school district? There are plenty of homes for sale out there. You need to narrow down what will work and not work for you.
The above five tips do seem pretty obvious. However, you would be surprised how many people don’t follow them before searching for homes. Be prepared, know what you want, learn the market and hire good a Realtor and your home search will be a joy.
Juan Allon – Finding The Best Sarasota Homes For Sale
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