If you are looking for a house, here are some universal real estate tips that will help you choose wisely. We spoke with local real estate expert, Darrell Done, to get the scoop on how to get the best deal.
1. Understand the Current Real Estate Market – there are definitely some incredible deals on the market; however, that does not mean that you should jump at every opportunity to purchase a property that looks like a good deal. Instead, it is essential to understand that the current real estate market is full of great deals, but many of these great deals also require some minor to moderate renovations or repairs.
2. Use pricing psychology – pricing strategy becomes important when you’re making an offer to a seller in a competitive market. You’ve probably heard that people are more likely to buy something that ends in a “9” instead of a “0,” such as being more willing to shell out for an item that costs $59 instead of $60. That’s house numerology at work. If the property is listed at $325,000 and you know there are already three offers, you might be tempted to go about 3% higher and offer $335,000.
3. Be the likable buyer – A seller attached to a home is typically more inclined to accept an offer from a buyer they like. Your agent can then personalize the offer cover letter from you this way. Be genuine – a small connection can go a long way.
4. Understand your Options – when it comes to investing in the current real estate market, you are looking at more than properties being advertised by local agents and homes being sold by the owner. In the current market, you can purchase everything from pre foreclosures and short sale properties to foreclosure homes and other distressed properties being sold at auction, in addition to traditional homes for sale at reduced prices.
For more information on architectural homes, lots and condos visit Darrell Done at www.darrelldone.com.