Finding Your Dream Home
Finding an Agent
Once you have been pre-qualified or pre-approved for a loan, the next step is to find a real estate agent that will help you find the right house. Consider finding an agent that is a REALTOR®. Realtors are a part of the National Association of Realtors® and have a code of ethics they must adhere to.
Find an agent that specializes in working as a buyers agent. This is the one of the largest financial purchases you will make so be sure to work with an agent that is knowledgeable, patient and willing to answer all of your questions. Many first time home buyers, and even buyers that have purchased real estate before, underestimate the stress they will go through when purchasing a home. Finding an agent that is empathetic and that will truly help you and be there through closing and beyond will help you maneuver through one of the most stressful life events.
This is the fun part, but it can also become overwhelming. A good real estate agent will most likely sit down with you and discuss what you want and need in a property. They will then proceed to send you properties that fit your criteria. If you’re interested in any of the properties, let your agent know and they will schedule a time for you to view the properties together. It is advised that you only view 3-5 properties in a day. Anymore than 5 can become overwhelming. Your agent should provide you with a property sheet with features of the home for each of the properties you are viewing. Take notes about what you liked and didn’t like after you view each property.
Making a Strong Offer
This is where you will need to rely on your agent the most. Note that your agent can never tell you what to offer on the house. However, they can provide you with market knowledge to help you come to a decision on the price you should offer. Things you want to consider, and that your agent should provide to you are:
- Comparable properties in the neighborhood. This will tell you what similar homes have sold at. This usually will give you an indication if the property is over or under priced.
- The average list to sale price. If homes are selling at 98% of their asking price, you wouldn’t want to provide an offer that is 15% below asking price. However, there are other things to consider when wanting to make a strong offer on a house such as a small inspection period window, 30 day closing, pre-approval statement, escrow deposits, and cash offers.
- Months Supply of Inventory. If you have ever heard people say “it’s a seller’s market” or “it’s a buyer’s market”; that is determined through months supply of inventory in a given area. An even market (neither buyer nor seller’s market) means there is 6 months worth of inventory currently on the market. That means it would take 6 months for everything currently on the market to sell. Anything greater than 6 months inventory is considered a buyer’s market. Anything less than 6 months is considered a seller’s market. This is important when placing an offer on a house. If the months supply of inventory is only 2 months, that means homes are selling very quickly and there could possibly be multiple offers on a house. In this market, it would not be best to provide a “lowball” offer.
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My name is Erika D’Argenio. Originally from the Washington DC area, I relocated to South Florida to enjoy the warm weather, beautiful beaches, and diverse culture. Prior to entering real estate, I was an elementary school teacher which gave me the ability to recognize and value the trust and confidence that individuals place in me and gave me the discipline to exceed those expectations each day. As an empathetic, hardworking, and trustworthy professional, I will help you maneuver one of the most significant and stressful life events of buying or selling a home with ease. By working with Coldwell Banker, my expertise in market knowledge and online marketing allows me to help buyers and sellers make confident decisions in today’s real estate market.
I strive to do more than just help buyers and sellers, I strive to establish a life long relationship with customers through my enthusiasm, professionalism, and positivity.