Moving forward in 2011

Homebuyers: Is this the year you find a bargain?

If so, here's a bit of free advice: don't just focus on getting a property at a bargain-price — rather, focus on finding the best value for your money.

In today's market, you will see many low-priced, nay — bargain-priced properties.  Yet many of these will need extensive (and expensive) repairs.  You'll likely find termites, water damage, incomplete (or badly done) renovations or years of deferred maintenance — the remnants of tough economic times.  You won't really know how good a bargain it is until all the costs to cure are totaled, even if you plan on doing some or all the work yourself.

Financing may be more difficult to get and/or more expensive with a bargain property, as lenders, particularly on FHA programs, aren't likely to see the "bargain" in the deal.  Properties that need "a little TLC" often have inoperable or missing kitchen or bathroom fixtures, broken windows, etc..  More often than not, repairs must be completed before the loan gets funded.  If this type of property appeals to you,  have your financing options lined up well before you make an offer.

There are many factors involved in purchasing a property, many influences that push and pull on the transaction — coordination will be key to bringing about a successful close.  Here's where a little planning on your part pays off big.

Enlist a good Realtor® as a Buyer's agent, ideally someone with current knowledge of financing requirements.  Have your agent coordinate the actions required: the inspections,  financing, negotiations — the "gotcha's" & last-minute surprises.  See the properties yourself; take the time needed to drive the neighborhood and check out the schools.  Call or email us if you want help — we offer complete and well coordinated Real Estate services, from concept to closing.

New for Homeowners — Introducing...