Blog :: 03-2017

Do you understand market conditions and it has an affect on pricing and home values?

Probably the second most question I'm asked, besides "How are you", is "How's the market"? Currently it is a sellers market, this doesn't mean as a seller you should over price your house to the point no one looks at it and it also doesn't mean the condition you keep your house in doesn't have any effect on it's salability. And as a buyer this means you need to be patient and have a buyers agent that is looking out for your best interest. When deciding to write an offer, it's important to know your comps, so that you don't over pay. Ok, back on point, please take a look at this chart to better understand how it is determined whether it is a buyers market or a sellers market. This is a simple understanding of how supply and demand work. For more information, please contact Stephen Oates. 

Curious what is your home worth? Click here for an instant valuation:

 

Show me the money....or a pre-approval.

Ok, I don't need to see a bag full of cash, but proof of funds or a pre-approval letter from a reputable lender is important. There are reasons, as a REALTOR™ I ask my clients for this, and it's for their own best interest. Here are a couple of these reasons:

1. We need to know what we are looking for, without a pre-approval, we don't know your "buying power" or comfort level.  This can save headaches, heartache, and everyone their time down the road. 

2. Not all loans are created equal. You may qualify or some types of loans, but not others. Also, all loans don't fit all houses.  Which loan best fits your needs?

3. When making an offer, most sellers (listing agents) will want to see that the potential buyer is a capable buyer and require a pre-approval or proof of funds before showing the property. (I always ask the question when representing a seller)

4.  This also gives you a chance to meet with the one who is going to "show you the money". Building the right team around you makes for a much more enjoyable and surprise free transaction. 

I hope this gives you a quick idea on why a pre-approval letter or proof of funds is important. For more information or some contacts for a local lender, please email steve@soates.com or call 603-777-7908.

 

 

Buying a home and the home inspection.

Most people are familiar with the term home inspection, but what are their expectations? First I'll tell you what I tell my clients, the home inspection is an educational tool, used to give you an overview of the home and it's condition. I tell my clients the inspection shouldn't be looked at as a negotiation tool, but rather a way to learn more about the property. That being said, when surprises are found, which weren't disclosed, sometimes re-opening the negotiations are necessary. 

A home inspector is not there to determine value, they aren't there to give you a quote on repairs, they are there to provide you with a thorough, bias report on their findings after inspecting the property. When I work as a buyers agent, I will attend the inspection with my client, so that we may discuss any findings and how to best proceed with the transaction. 

Looking to buy a home or sell a home and interested in pre-list inspection? Contact me (Steve) and we can discuss. 

Dedication that moves you.™