July 19, 2016
The Worst Home-Buying Advice People Actually Believe!
“‘Hold off, home prices are going down’”
“Why you might hear this: The predictions have been
going on for years: The housing bubble is going to burst again; income
is stagnant; the zombie apocalypse will free up stock.”
“Why it’s bad advice: Sadly, we have yet to find a
Magic 8 Ball that’s spot-on when it comes to predicting the future. So
if you want or need to buy a home, the time isn’t someday—it’s now.
And “with a lack of inventory and the busiest time of the year
approaching, home prices aren’t going down anytime soon,” says
California Realtor® Tracey Hampson.”
Home prices are still the same price they were 10 years ago and there are stricter mortgage rules and exceptionally low inventory. That spells one thing, prices will probably go up for a while. You throw in the low interest rates and you have a triple threat on home prices going up.
” ‘You don’t need to use a real estate agent’”
“Why you might hear this: See a home you like, then
make an offer—how hard can it be? Cut a buyer’s agent out of the picture
entirely and you’ll do just fine. Plus, with no agent to collect a
commission, you’ll be able to negotiate a better deal with the seller.
“Why it’s bad advice: In a market where houses are
moving so fast it’d give you whiplash, a real estate agent is
indispensable. Not only will your agent know about properties
long before you do, he or she can also guide you through mountains of
paperwork, pointing out potential problems that could cost you big-time
down the road.”
Realtors also talk to other Realtors to know what homes that are coming on the market. In our office on Tuesdays we meet and go over all the new listings,old listings, and new ones that are coming on the market. There are some homes that are older listings that may get over looked. Those homes you may be able to get a better deal if you have a Realtor that can help negotiate the price. Knowing which ones want to deal on the price is important in this area, and most Realtors know what properties need an offer.
In most cases Realtors that represent the buyer and do not have that listing you are trying to buy, can get you a better deal and save you thousands in a lot of cases. I know that when I represent buyers I am always looking for a way to save money. That may be through getting appliances in the deal or the seller helping the buyer with their down payment. There are many ways to save money in a real estate transaction and knowing them takes getting a Realtor that understands all the techniques and ways to get it done.
“‘Don’t bother hiring a home inspector’”
“Why you might hear this: You’ll spend a lot of money on an inspector to point out a leaky faucet. Besides, the home looks fine! Um, right?”
“Why it’s bad advice: Oh boy. That property that
looks just perfect at an open house could be rife with issues only a pro
will uncover. And saving those few bucks from skimping on an inspector
could cost you loads down the line. And Los Angeles stager Michelle Minch of Moving Mountains Design reminds us not to skip inspection even with a home warranty from the seller.”
Usually there are not a lot of issues with homes. I do like getting them inspected for the simple fact you want a home warranty when you close a home. Having the clean home inspection will show there were no pre-existing conditions and make the warranty full proof. This is for retail type purchases, and it also helps you negotiate a little if you find some defects. Inspections are good for many reasons.
Realtors are important to have when purchasing a home. You need to help ensure that your getting the best deal and that all your T’s are crossed and your I’s are dotted. I am a Realtor and would love get you a home or sell your home. Call 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty