Tips for making good Real Estate decisions in 2013 – Santa Fe
The Real Estate market is shifting once again. After the market crashed a few years ago, and home prices fell dramatically, things are on the move again, prices are on the rise, homes are selling again and the inventory of available homes for sale is low.
Because of the dramatic shifts in the market, it is important to be ready to make smart moves if you see the home of your dreams. Purchasing real estate right now can be very lucrative when the right decisions are made, as well improve the quality of your life.
Here are a few tips and suggestions for you:
- Work with a qualified Realtor: Before engaging a Realtor, do a little research on them, checking how many properties they sell, how long it takes for them to sell homes, and whether the agent has experience in the neighborhoods you are interested in. An experienced realtor will have access to all the right tools and resources to help you find the right home. I have been a REALTOR® in Santa Fe for 29 years, and can help you with all of your Real Estate questions and needs.
- Buy insurance prior to moving in: If anything happens before you move in, you’ll be covered.
- Selling your current home while looking for a new home: If you have to sell your current home before purchasing a new home, you can find yourself at a disadvantage, because the odds are, if you make an offer on a new home before your home sells, you will have to add contingencies in your offer. Sellers will simply take their pick of offers not burdened by contingencies.
- Make sure you get a letter of approval for your mortgage before you make an offer on a house: And really should do this before you even head out with a Realtor to start looking.
- Negotiate carefully: The market has shifted, and in some markets, it has shifted to a sellers’ market, but buyers have not necessarily caught up with this change and feel like there are still homes out there that can be purchased at low prices. What we are seeing in these markets is multiple offers on homes, so if you at not careful, you could easily miss out on the home of your dreams. If your offer is too low, you may be perceived as not being a serious buyer, and lose out on the deal completely when you are outbid by other offers. If you bid too high, you may miss out on saving some money. The best strategy is to make your best offer and then move on. Additionally, make the deal as clean as possible. Sellers like a clean deal and an easy closing.
Buying a home can often be the biggest purchase anyone will ever make in their lifetime, and involves some very big decisions. Hopefully, the information above will help you make the right decisions about your real estate purchase, and make the process less stressful and a good experience.
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