How to actually buy the right home, at the right time, at a fair price, part 1 of a 4 part blog.
Was there ever a time you learned a new skill and at first it felt overwhelming? We all have right? Going it alone with no help probably felt hard, that's part of my story and how I found my calling as a Realtor.
Maybe you googled and did a little reading, got a process to follow and found someone to guide you through what you were learning. Then, it probably felt a lot easier.
Home buying is no different, it CAN FEEL SIMPLE, but it's not easy.
I spent my entire childhood life with no idea what home meant.
Until I was around 16 I had never really been in a “home”.
So when I share that I help people find the right place at the right time for them to call home, that’s quite literally what I mean.
I take what I do that seriously because I know what I do truly matters in my client's lives.
Now, I love nerdwallet. They say there’s 15 steps to buying a house. Rocket mortgage says there are 13.
If I was learning to do something I would want to learn from an expert, someone who’s done it hundreds and hundreds of times and knows the good the bad what can go right and what can go wrong.
To be clear, I am terrible at a ton of things, real estate is where I found my strength. I know how to help you learn this as a home buyer, teach this to your home buyers, do this yourself and build your life in this career path.
Having sold just under 1000 homes we have it down to a science, almost. There are a shocking amount of steps we take in order to do it well, best guess, easily 400 steps, processes, conversations check ins, strategies, messages, emails, calls, meetings go into one well orchestrated sale.
Today, I help people find their perfect place to call home whether it’s a really great colonial on a cul de sac with a fenced yard and a rope swing, a luxurious estate, or a petite bargain condo and everything in between. It's not the size and price that matters it's the people.
I’m going to show you some of the most important steps so that you aren’t another statistic in the jaw dropping real estate market of this year in Massachusetts or NH real estate markets wont get you down.
Buyers are walking into open houses and showings with almost no knowledge of the real market, the real steps, the real processes and that's ok as long as their agent knows them.
Before you start the how of home buying, we need to address the most confusing part of the process. We need to know 4 of the most common types of homes for sale.
Type 1 - Accidentally under priced. The agent didn’t do the appropriate research, the seller went with a number that sounded fine and now the house is the hottest one in 20 towns. That’s ok, don’t let that scare you. We have plans to help. This can work.
Type 2 - Energy priced. Same results as #1 but this home owner and agent made the decision to find the real value of the house and take as much as 10,15, even 20% off for their asking price, much like an auction, to let it rise to the price it’s truly worth in the buyer’s minds. It’s crucial to know, by energy pricing on purpose or by accident many sellers actually earn higher prices than they would have by pricing inline with the market. Example, an $600K house hits the market, we do our home work and realize it should really be listed at $680K - it receives 20 offers and sells for $740’s. Some buyers love to compete, others will walk away. For the competitive types or someone who simply must have the home, they’ll go big and then they’ll go home, to the house they won. We can make this work if it's right for you.
With both 1 and 2 we take the same process, we determine the real value, where it should have been listed and we prepare you accordingly then you decide if it's right for you as the buyer.
***TONS of houses out there have 0 offers on them right now and I know how to find them. If you are a person who says I will not get into a bidding war no matter how great the house is or how under priced it is***
Type 3 - Appropriately priced. The agent gathered accurate data, researched the home correctly, listened and learned the seller’s goals. Then once all of that work was done, they helped the seller understand a fair pricing strategy. I call this the “right buyer at the right time strategy”. There will be much less traffic than types 1 and 2, but the buyer who’s perfect for the house will come along at some point. The seller is looking for those most willing to pay a price and terms they are comfortable with selling for and if it takes a few days that’s not an issue. This is a solid option for buyers.
Type 4 - The overpriced house everyone spotted a mile away. Very few buyers, very few if any offers, low traffic online, low traction in person. Often needs work, not pretty, not modern, not stylish, not a great location but if it was priced lower now it’s the best of the best. I love an over priced house for my buyer client because we are very often the only one sending an offer. In this market, every seller assumes their house will sell at the speed of light, with tons and tons of desperate house hunters begging for their attention. That excitement and energy quickly fades as their neighbors casually ask how it’s going. After the phone stops ringing with updates from their agent. After a few months or more waking up every day preparing their house just in case a showing pops up at the last minute, they are likely negotiable to a fair price range after a long time on market.
How do you know which home is using which pricing strategy?
You start with a crystal clear home buyer success session, done in the privacy of your home, at your pace.
Imagine spending 15 to 20 minutes checking out a few houses on line with some information we share about who, what , when , why the houses you like sold for what AND THEN hitting the market place to hand pick the houses that are best and right for you, your budget, your home buying comfort style and your living style.
My guide will teach you both some of the ways we help our clients move ahead successfully, on their terms.
Part 2 coming this week will go over what data you need BEFORE you step foot in a house.
P.S On a side note, the scariest part of the real estate market to me, is the huge amount of house hunters who are out there floating from house to house, writing offer after offer with no clear understanding of what an agent is supposed to do, how they themselves are supposed to prep and what an enormous difference in their journey working with an A ++ lender if they need financing and an A++ agent can do to drastically bump up their odds of feeling like they won on closing day.
I'm giving away everything I know, everything that got us to where we are because now, more so than any other market I've ever seen or worked through, agents and clients are really in need of help.
For me, home is where my kids, dogs and hubby are.
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