What the Fed’s Rate Cut Means for BuyersThe Federal Reserve cut interest rates on July 31, 2019 for the first time since the Great Recession took hold in 2008, though the move is not likely to
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Five Smart Homebuyer Strategies
The National Association of Realtors has announced that there’s a housing supply shortage. Homes are selling quickly and home prices are starting to inch up again.
Any time the market changes it’s time to change strategies. Here are Five Tips for home buyers.
Make a Good First Impression: Not only do you need to impress sellers, you need to impress real estate agents. Be specific about your must-haves. Don’t waste time viewing homes that lack what you want most.
Get Preapproved by a lender: Not only will you know how much home you can buy, you’ll be ready to make an offer quickly.
Shop Within Your Price Range: In a seller’s market, it’s wise to shop for homes within or slightly below your price range. This will give you more room to make a full-price offer or slightly above in case the home you want has multiple offers.
Be Flexible: No home is perfect. To get more for your money, you may shop for an older home that needs renovation. Try to look past cosmetic features. Sometimes older homes have larger rooms than newer homes.
Be Ready: Once a new property comes out, be ready to see it and make an offer if you like it. Set a reasonable closing date that accommodates the seller. Confirm the offer with your lender. Schedule the inspections you’ll need and don’t nitpick the seller over small things. Always be courteous to all parties to the transaction.
For more information or to preview homes, call Jack Lees, TLC Realty, at 818 262-0924.