Now that the economy has begun to stabilize, more people are feeling comfortable with buying and selling their homes. In California, sellers can enjoy the renewed interest in real estate that will make it easier to market their property to prospective buyers, and buyers can benefit from having more real estate available to find the perfect home. While the current market trends are beginning to shift, buyers can act now and take advantage of competitive prices and low mortgage interest rates to land the home of their dreams. Whether you are a first-time home buyer or an experienced seller, here are eight real estate secrets that can help you get the most out of your investment.
Insider Secrets for Buyers
1. Location is Everything
In the real estate market, location can have a significant impact upon the value of your investment years down the road. Choosing a smaller house in a sought-after location is often a wiser move than a larger house in an inconvenient area since it will be more likely to hold its value over time.
2. Stick to Your Budgeted Price
When shopping for a home, it can be easy to get sidetracked and spend more than you had planned. Before you start your search, find a lender to get a pre-approved mortgage. Using this as a guide, you can narrow down your options and find a home that is in your price range.
3. Understand Your Credit Score
Credit discrepancies can hinder your home buying experience, and make it hard to score a low-interest mortgage rate. Find out your score before you meet with a lender so you can clear up any issues before you start your search.
4. Be Willing to Explore
Every buyer should have a defined set of features they prefer in a home. However, it is best to go into home buying with an open mind. Often, a house in the suburbs or a condo can offer a better price with more amenities.
Insider Secrets for Sellers
1. Set the Stage
Before putting your home on the market, take a look at the features with a fresh set of eyes. Clearing out the clutter, applying a fresh coat of paint and updating your appliances can all make the home more attractive to buyers.
2. Find the Right Price
When buyers search for a home, the price is the first thing they will use to narrow down their options. Avoid setting the price too high so that buyers do not skip over your home. Although it’s wise to leave room to negotiate, you do not want to put off potential buyers.
3. Research Your Agent
During the selling process, your real estate agent will be the person who represents you during negotiations and should serve as a helpful guide along the way. Do your research beforehand, and make sure the person you choose has a proven track record of providing support to their clients.
4. Do Not Stress Over Closing
Closing date conflicts can be a serious source of stress for those who are buying and selling at the same time. However, most mortgage lenders are willing to offer bridge financing to those who have satisfied all of their conditions.
On both sides of the real estate market, there are simple tricks that can streamline the process of buying and selling a home. Understanding these secrets will put you on the fast-track to capitalizing on the current market while investing in your future.
The Ultimate Concierge Real Estate Experience
Tanya Dzhibrailova, Realtor, #1 TOP PRODUCER Company Wide 2013 – Zephyr Real Estate
TOP PRODUCER Company Wide 2004-2012 – Zephyr Real Estate
M:415.531.6779 E:[email protected] W:propertiesbytanya.com