This is the fun part. You've seen the shows, you go to three desirable homes, discuss granite countertops and closet size, and then pick your favorite. Right?
Ha. In reality, according to the National Association of Realtors latest stats, it take the average homebuyer 3 months to find their dream home. This could mean a lot of looking and talking about closets and countertops. With the information available online today, you can really find out a lot of information before you go out to look, but don't let the pictures you find online tell the whole story. A good agent can make even a bad space look good, and a lazy one can make a beautiful house look like a dud.
Do your research. Find out what neighborhoods you really love, and look at all possibilities in that neighborhood. Consider homes that might be slightly different from what you are looking for. Looking for an extra bedroom for your office? What about a home with less bedrooms, but a great space in the basement? Think you need move in ready? What about finding a house with good bones, and doing the updating yourself?
Make sure you have a good buyers agent who will show you the houses YOU are interested in, not just the ones that will make them the most money. A good agent listens to your needs, adjusts accordingly, and shows you the houses you are interested in. Contact me if you are looking for someone like that, I would be happy to help. Also, check out my website, www.jennifersmiller.com where you can set up a Home Finder account where you can search for homes, save the ones you like, and get automatic notifications when new homes hit the market that meet your needs. I can also set you up with something called Market Watch, where you can see recent home sales, homes on the market, and other stats regarding your area of interest. It is a great way to keep an eye on your neighborhood.
I hope this article is useful! I think it downplays the role of a good agent and the fact that they are the key to getting you into homes that you like. If you are looking for a good buyers agent, contact me today!
Jennifer
House Hunting
Your first step here is to figure out what city or neighborhood you want to live in. (Remember the old saw about "location, location, location.")
For overall demographics and data on metropolitan areas, you can visit a city site like CNNMoney's annual Best Places to Live list. For more detailed neighborhood information, check out sites like AOL Real Estate, Trulia.com, Zillow.com or NeighborhoodScout for comprehensive school and demographic information on a number of communities. Look for signs of economic vitality: a mixture of young families and older couples, low unemployment and good incomes.
Pay special attention to districts with good schools (high teacher-student ratios and graduation rates are among the hallmarks), even if you don't have school-age children. When it comes time to sell, you'll find that a strong school system is a major advantage in helping your home retain or gain value.
Try also to get an idea about the real estate market in the area. For example, if homes are selling close to or even above the asking price, that shows the area is desirable. Try Homegain.com, which is free, or Dataquick.com, which is available only to paid subscribers, to check out recent home sales.
Your real estate agent may also be able to show you listings. Incidentally, if you have the flexibility, consider doing your house hunt in the off-season -- meaning, generally, the colder months of the year. You'll have less competition and sellers may be more willing to negotiate.
Be wary of choosing search criteria that are too restrictive. For example, select a price range 10% above and 10% below your true range. Add a 10-mile cushion to the location you specify. If you see a house you are interested in, save it, print it, add it to your bookmark or favorites list, and take note of the MLS code; your agent will want that code to arrange to show you the home in person.
When you actually start touring homes, bring a notebook and a digital camera to help you remember details. Your real estate agent should supply you with a description of each house and the lot it sits on, the property tax assessment, the asking price, and sometimes a diagram of the rooms. Your camera and notebook are there to record other details, ranging from the cost of heating to the view out the rear window.
One note: Don't automatically reject a house just because it doesn't measure up to your desires, either in features or price. You can always add a deck, for instance, or update a kitchen. Since the asking price is just a starting point for negotiation, you will be making offers and counteroffers as both parties seek an acceptable price.
[source: http://money.cnn.com/magazines/moneymag/money101/lesson8/index5.htm]
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