What to Expect in Today’s Market, Fall 2011

It’s definitely a buyer’s market! But we recommend that you remain realistic. You probably won’t get a $500,000 house for $100,000. Having said this, there is no doubt that prices are a good 20% lower than they were just a few years ago.

• Use your Realtor! We are trained professionals familiar with the market and can help you make a good offer to a seller. We are also knowledgeable about the various financing and down-payment assistance programs available to buyers.
• Get pre-qualified. Make an appointment with the mortgage loan officer at your bank. Knowing how much you qualify for in a mortgage is essential to looking at only properties you can afford. Your Realtor can make the search much more productive if she/he knows what your price range is.
• When you find your home ask your broker for a CMA, see sample, so that your offer is fair and will be well received. This is your best indication of whether the home is properly priced or not!
• Buying your first home is a special delight. Remember though, your first home may not be your “forever” home. Buying your first home can be an overwhelming and scary ordeal. Use your Realtor. We will guide you through the entire process of buying a home.
• Enjoy the journey! Not every house is going to be the best one for you, however, seeing several properties will help you define what you’re willing to give up and what are absolute “must haves”. You will find that perfect home!