There’s no two ways about it folks, this can be a difficult
time to be a buyer. With inventory as low as it is, buyers are seeing
properties go on the market one minute and under contract the next. This can
lead to much disappointment and frustration for buyers looking for a home right
Whether they are looking in Denver, Aurora, Centennial or Westminster, buyers
everywhere are feeling the pressure. With all this pressure, why would buyers
make things more difficult for themselves?! Seems silly, but they do all the
time. Here are 4 things smart homebuyers can do to help themselves buy a home. 1. Talk to a lender First
Would you climb behind the wheel of a Ferrari if you have
never driven a car before? Of course not! Then why would anyone look at homes
in person before they know where they stand financially? What usually ends up
happening in this case is buyers THINK they can qualify for an amount, let’s
say $300,000. After speaking with a lender, they find out they can only qualify
for $250,000. Now that they have looked at homes for $300,000, how could they
find anything comparable for $250,000? They can’t. You need to have all the
information beforehand and that starts with speaking to a lender. 2. The Market Is What The Market Is
As a Realtor, I do not make the market, nor do I control the
market. I just simply navigate through it. Many buyers have what I like to call
“Champagne Taste on a Beer Budget”, meaning they are looking for a higher
quality home than their budget allows for. Assuming you will just wait until a
nicer home comes on the market can be a huge mistake. With prices appreciating
they way they are, your options often become less desirable with time, not
more. 3. Stop Watching Pawn Stars
I am an admitted Pawn Stars addict, which is a show on the
History Channel. I love watching people haggle over prices. It’s great
entertainment. However, buying a house is not like haggling over a signed
Mickey Mantle Baseball. We are in a Seller’s market right now, meaning demand
outweighs supply. This leads to many properties entering multiple offer
situations. When a property has 5 offers, why in the world would they even
consider the offer where they are offering $50,000 less than the asking price.
If you feel compelled to offer 50 cents on the dollar, do not even waste your
time. 4. Trust the Professional As a real estate professional, I have my pulse on the
market. I know what prices are doing in various areas of town. I usually know
what a realistic offer and what an unrealistic offer is. Being a Realtor, I
have no idea how to perform an open heart surgery. I do not know how to keep a
financial institution complaint of rules and regulations set forth by the Securities
and Exchange Commission. For those
things, I defer to the experts. As a buyer, a market professional will give you
advice based off of years of knowledge and experience. Would you tell your
surgeon, “I don’t need your help, I can operate on my own heart”? Of course,
this is an extreme analogy but a home is, for most people, the largest asset
they own. Why wouldn’t you trust the professional?
So if you are thinking about entering the market for a new
home, or maybe even your first home, call me today and I can help you avoid the
most common mistakes homebuyers make!
Curious what your
home is worth? Use our FREE online valuation tool Click Here!
is part of the Carr Peck & Associates at Keller Williams. Carr Peck &
Associates have been recognized locally and nationally as experts in real
estate. Locally, they are Realtor Roundtable Recipients with Denver Metro
Association of Realtors. Nationally, they have been recognized by the Wall
Street Journal and Real Trends as one of the top selling agents in America.
Photo courtesy of www,andrewschultz.com and google images.
Author:Jason Peck Phone: 720-446-6301 Dated: June 15th 2014 Views: 4,854 About Jason: ...
Recognized as a top selling team in Denver Metro area. Nationally recognized for homes sold by the Wall Street Journal, Real Trends and Top 5 agent by RIS Media. Our goal is simple and that is to exceed our client's expectations by providing professional service, expert advice and exceptional results.
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