To really get the most out of your house hunting experience you may have done little bit of research, scoured the market and read real estate articles ad nauseam. You might think you’re an expert at this point but no one is an expert better than a professional that buys and sells real estate on a day-to-day basis. Gaining insights and secret tips from real estate agents and brokers could be the key to saving money and finding the home you really are going to love for years to come. Here’s our five secrets of every house hunter should know before jumping in the market.
#1. Think strategically.
Our bay area market is hot and there are new developments popping up all the time but it may not be fast enough. Buyers, especially first-time homebuyers need to think strategically in order to land a house in a hot market. It can be so frustrating looking at multiple houses only to be bid out time and time again. However, there’s always a way to gain an advantage over the competition. One way is for your agent to pull tax records of sellers to get information to use on a personal letter to the seller. This personal letter could be the ideal way that you get the home. Also, ask your real estate agent to share your needs on social media and with other agents for insight on homes that may be have yet to hit the market.
#2. Research and scope out the neighborhood.
Before making an offer on a particular home, check out the neighbors and the neighborhood around that home. Perhaps they’re having a garage sale in your desired neighborhood and you can ask the homeowner questions as your shopping. You can also sometimes find neighbors out watering the lawn and you can simply asked them about the neighborhood, the marketand what they like or dislike about a particular area.
#3. Use pricing psychology.
Pricing a house is very similar to pricing just about anything. $5.99 seems like a better deal than $6, even though we know that it’s basically the same. Pricing a house works very similar. If the property is listed at $625,000 and you know that the property has already received several offers, you may be tempted to go over the highest asking price with a flat number such as $650,000. However, raising it with an odd number such as $648,000, or $647,000 etc., may be the unique bidding number that will get yours noticed over the others.
#4. Be a great buyer.
Don’t be a lowball buyer that insults the seller at every turn. Sellers are more attracted to buyers that they like and that may share some interests. The personal letter can offer an insight into your personality and character and if you’ve already seen the inside of the home you might make notice of some of the things that stood out to you such as their baseball collection, unique design taste or complement them on or remodel they’ve recently completed.
#5. Keep an open mind.
Try not to let outside stigmas alter your perception of the home. Many people feel that a home where a senior citizen may have lived and even perhaps have passed away in is a reason to discard the property but chances are the the person that lived here took very good care of the property even though they may still have pink Formica, vinyl floors and original wallpaper. Keeping an open mind could give you a better chance at success and keep competitors away.
Read more: How to Get a Great Deal on a House
These five tips can make it a lot easier to find and purchase the home of your dreams. For more information please contact me today and let’s get started looking at a variety of homes in your desired area.