Mary Crane's Blog
Spring represents a lovely time to buy a house. As such, many homebuyers enter the spring real estate market with a common goal – to find the best house at the best price.
What can you do to separate yourself from the homebuying competition? Here are three spring homebuying tips that you need to know:
1. Plan Ahead
The housing market moves quickly, and homebuyers who lack the necessary real estate skills and know-how may fall behind the competition. On the other hand, homebuyers who prepare for the spring real estate market should have no trouble discovering the perfect house.
Evaluate the real estate market closely. Consider your finances and the size of the house that you would like to purchase. Also, examine the prices of houses in your area and how long these homes have been available.
Ultimately, a diligent homebuyer will plan ahead as much as possible. By doing so, this individual will be ready to browse properties and submit offers on residences as soon as springtime arrives.
2. Get Pre-Approved for a Mortgage
Homebuyers who receive pre-approval for a mortgage can set realistic expectations for the spring housing market. These homebuyers will know exactly what they can afford, and as such, can narrow their home search.
Getting pre-approved for a mortgage will require you to meet with a bank or credit union and consider all of the financing options at your disposal. Each lender will be able to explain the differences between adjustable- and fixed-rate mortgages and respond to your mortgage concerns and questions as well.
With pre-approval for a mortgage, a homebuyer may stand out from the competition. This individual will be able to streamline the process of submitting an offer on a home. Plus, this homebuyer may be able to boost his or her chances of receiving a "Yes" from a home seller.
3. Hire an Experienced Real Estate Agent
An experienced real estate agent won't take shortcuts, and as a result, will go above and beyond the call of duty to help you find the perfect home in spring.
Hiring an experienced real estate agent may seem difficult due to the sheer volume of real estate professionals that are available. However, homebuyers who consider a real estate agent's reputation and credentials may be able to work with a great real estate professional who can guide them along the homebuying journey.
How do past homebuyers rate a real estate agent? Does a real estate agent possess many years of experience? And how will a real estate agent handle tough negotiations with a home seller? These are just some of the questions for a homebuyer to consider when he or she evaluates a real estate agent.
In addition, homebuyers will want to hire an experienced real estate agent who is available to answer their homebuying queries. This real estate professional will allocate the necessary time and resources to support a homebuyer and ensure that this individual can make informed decisions.
Employ an experienced real estate agent to help you find a home in spring. With this real estate agent at your side, you can move closer to purchasing your dream residence.
Many home sellers face a dilemma. In most instances, it is important to set a competitive price for your property to stir up plenty of interest in it. Conversely, it is essential to explore ways to maximize the value of your residence.
For home sellers, establishing the right price for your house is key. By doing so, you can set a price for your home that meets your needs as well as homebuyers'.
What does it take to establish the right price for your residence? Here are three tips to ensure home sellers are equipped to do just that.
1. Study the Housing Market Closely
The housing market fluctuates constantly. As such, what your home was worth yesterday may not be what it is worth today.
If you study the housing market closely, you can price your residence based on the current real estate sector's conditions. Thus, you'll be better equipped than other home sellers to garner attention from homebuyers and accelerate the home selling process.
Examine the prices of comparable houses in your area, along with the prices of recently sold houses similar to your own. This will make it easy for you to establish "fair market value" for your property and price it accordingly.
Also, don't forget to conduct a home appraisal before you add your home to the real estate market. With a home appraisal, you'll be able to receive comprehensive insights into your home's condition and complete home repairs to boost its value.
2. Set Home Selling Goals
Do you want to sell your house as quickly as possible? Or are you looking to optimize the value of your home, regardless of how long it remains on the real estate market?
Set home selling goals prior to adding your house to the real estate market, and you can establish a fair price for your residence.
For example, if you want to sell your house so you can relocate quickly, you may want to price your residence competitively. On the other hand, if you can afford to be patient, you can always wait out a buyer's market to maximize the value of your residence.
3. Hire an Experienced Real Estate Agent
Your real estate agent will play a key role in your ability to sell your house and get the best price for it. And if you employ an experienced real estate agent, you should have no trouble accomplishing your home selling goals.
With an experienced real estate agent at your disposal, you can receive extensive support throughout the home selling process. This real estate professional will offer expert tips and advice to help you get your property ready for the real estate market. In addition, he or she can offer guidance about how to price your home competitively, whether to accept or reject a homebuyer's offer and more.
Collaborate with an experienced real estate agent, and ultimately, you can simplify the process of selling your home.
Are you an experienced homebuyer? If so, you may be better equipped than others to enjoy a quick, worry-free homebuying experience.
Ultimately, a veteran homebuyer can learn a lot from his or her past experiences, including:
1. How to Avoid Paying Too Much for a House
The housing market offers many opportunities for veteran and first-time homebuyers alike. However, a first-time homebuyer may struggle to pounce at an opportunity to acquire a top-notch house at a budget-friendly price. On the other hand, an experienced homebuyer likely knows what it takes to acquire a house at a price that matches or surpasses his or her expectations.
As an experienced homebuyer, it generally helps to think about how you narrowed your price range when you most recently searched for a home. This experience may guide you as you look to establish a price range for an upcoming house search.
Furthermore, a veteran homebuyer may know exactly what types of housing market data to examine before entering the real estate market. By evaluating the prices of recently sold houses and available residences in cities and towns where you'd like to live, you can use assorted real estate market data to accelerate your home search.
2. How to Get Home Financing
If you struggled to get a mortgage for your first home, there is no need to deal with home financing problems once again. Instead, a veteran homebuyer can allocate the necessary time and resources to get pre-approved for a mortgage and enter the housing market with a budget in hand.
To receive pre-approval for a mortgage, it usually is a good idea to meet with various banks and credit unions. These financial institutions can educate you about myriad mortgage options and help you select the ideal mortgage based on your homebuying needs.
3. How to Differentiate a Buyer's Market from a Seller's Market
Regardless of whether you previously bought a house in a buyer's or seller's market, you can use your past homebuying experience to help you assess the current state of the housing sector. Then, you can map out your homebuying journey accordingly.
If you notice houses are selling quickly at prices above their initial asking figures, you may be preparing to enter a seller's market. In this scenario, you may need to act quickly to acquire a great house.
Comparatively, if you find that homes are lingering on the housing market for many weeks or months, a buyer's market may be in place. In a buyer's market, you may be able to purchase a stellar house at a discounted price due to the sheer volume of houses that are available.
Before you launch a home search, it is important to note that even a veteran homebuyer may need help at times. If you hire a real estate agent, you can receive expert support throughout the homebuying journey. In fact, this housing market professional will make it easy for you to discover a superb house in no time at all.
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