Monday, July 30, 2012

7 Home Buyer Tips for Humboldt County Home Buyers

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5 Tips for Home Buyers in Humboldt County

Maybe you’ve been considering buying a home because prices are low and interest rates are too.  You may have never thought that you could afford a home (considering where prices were just a couple of years ago) or it just made more sense to rent.  It seems that the word is out now and buyers are placing offers and buying homes.  Well if you do want to jump in and buy a home here are 5 tips you should consider.

1.       Get a Realtor to assist you in your search.  A good practice is to ask your Friends or family if they know a good Realtor who can assist you in your home search.  I suggest this because you can run yourself ragged looking in print media and on the internet for a home.  If you have multiple homes that you want to see, chances are that you will have to make appointments with multiple Realtors and each one has a different schedule and personality.  Pick one Realtor who will schedule appointments, suggest listings to see, let you know when that house you missed out on is back on the market and just might have some tools that will help you in your search.  More on helpful tools another blog post…

2.        Get Pre-qualified or better yet, Pre-approved! - This makes all the difference in an active market.  You may have looked at an online to see what kind of payment you can afford but without visiting with a Lender you may not realize that the car you bought last year actually affects what a bank is willing to lend to you.  You should be realistic about what you can afford and it will help your Realtor narrow down listings that currently

Many homes coming on the market under $200,000 are getting multiple offers.  You don’t want to have an offer rejected or miss out entirely by not having a lender willing to write a letter attesting to your qualification to get a loan on the house. How bad would it feel if you missed out on the perfect home because you had to visit with a lender before your offer would be considered by the Seller? So visit with a competent lender to help you get that home.  It will also help to know exactly what you can afford.

3.       Make yourself available to see homes.  Waiting a week to see a new listing may put you out of the running.  Also plan to look on weekends and evenings even lunches if necessary.

4.       Don’t apologize to your Realtor for seeing a house that doesn’t suit you or fit your personal style.  If you ask me I think of that as a success because now we can cross it off of the list.

5.       Be realistic about the condition of the home.  Just because the house is located in the perfect neighborhood, is the right size and (best of all) is priced right doesn’t mean it is right for you.  If it is missing flooring, has chipped and peeling paint, no toilet and a non-functioning kitchen chances are that you won’t be buying that place.  This doesn’t apply for cash buyers and rehab loans, but it’s likely the only buyer for that home is an investor.

6.       Be Realistic about location.  If you work in Eureka and your spouse or significant other works in Eureka it would probably be wise to live in Eureka, not Willow Creek.  Especially with gas prices like they are…

7.       Be patient.  If you miss out on one home there is likely a reason for this, if you are patient another house will come along probably a better house.  I once had a client that I worked with for 2 ½ years.  They missed out on a house they loved early on and they would always mention it.  They finally bought a new house last year and couldn’t be happier.

Happy house hunting!

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