Home Buying

Things to Remember Before Buying your First Home

Buying your first house can be a daunting task. Making sure that you take in all factors before deciding to buy is important. Here are a couple things to consider before you take the leap into home ownership.

Purchasing a Home with Adverse Features

It's not your real estate agent's job to pick the house you will buy; however, it is prudent for your agent to point out any unchangeable adverse features the home may have.  These are features that may cause it to appeal to less buyers resulting in the home taking longer than average to sell, and conditions that will cause the home to sell for less than similar properties.
 
If the home has any adverse conditions that you can't change, and you still want to buy the home, then your agent should caution you about the effect they may have when it's time for you to sell.  That doesn't mean you shouldn't buy the home.  If you love it, then buy it.  Your goal should be to buy it at below market value, knowing that you will be selling it at below market when that time comes.
 
When our past clients call and ask us to sell the house we helped them buy, we don’t want them to be surprised by the fact that their home has an adverse condition that will cause it to sell for less money and take more time.  We want them to be fully informed.
 
So what are some of the possible 'adverse conditions' we're referring to? 

This Week Might Be the Best Time to Buy

New research from Realtor.com points toward the week of September 22 (AKA right now!) as the best time of the year to buy a home! During this week, home shoppers stand to benefit from the alignment of a number of key housing market factors, including reduced competition, more price reductions, lower listing prices, and more available inventory. Looking at it on a more local scale, the first week of fall was determined to be the single best week in which to buy in 77% of the nation's 53 major housing markets, leading Realtor.com to name it "the 'Black Friday' of homebuying"!