If you're in the market for a home in Alamo or the surrounding area, here are five new rules that could help you close the deal.
Forget Lowballing â€“ Making an offer far below asking price can often prevent price negotiation and sometimes will kill the deal altogether. Smart sellers know there's another person right behind you who might present a better offer. You'll get better results by asking the seller for concessions such as help with closing costs or paying for needed repairs.
Get Pre-Approved â€“ To show sellers you're a serious buyer, get pre-approved before you look at even one home. This confirms how much house you can actually afford which makes potential sellers more confident that you can secure a mortgage in a tightened lending environment.
Consult an Expert â€“ A qualified real estate agent can educate you on market conditions in your area including how long it takes for a home to sell. Transactions from the last three months will provide a clear idea of how things are and what to expect for your buying situation.
Expect Competition - Today's market is a lesson in basic economics. The supply of homes is small while demand is large, so lots of buyers are bidding on the same homes, particularly short sales and foreclosures.Â If you're pre-approved you can often create an offer faster than those who are not.
Dig For Information â€“ Find out all you can about that East Bay property before you make an offer.
Even in a tight housing market, it's possible to hold the winning offer if you follow these new home buying rules. Every extra minute of work you put in will be worth it when you're sitting in your dream home.
I will walk with you through every step of the real estate process. If you are ready to sell or buy a home, contact me by email or call me, Brad Gothberg, at (925) 648-5326. I have been a real estate professional for 23 years and my qualifications include the production of over $105 million in sales within the past 5 years.Â