Doug, what is your smart buyer system? Our Smart Buyer System will minimize the risk to you and assist you in finding your first home, your investment property or your dream home. How do we do this? Well, we try and ask the right questions and strive to be your advocate throughout the process. In other words, if we think you have rose colored glasses on for a particular property and we don’t think it is a good fit for you based on your needs and wants, we’ll tell you so. We’re not trying to make friends here by only telling you about all the great things a property has to offer, we’ll let you know the good, the bad and the ugly.
Ever watch those ‘home’ shows on TV where the agent tries to convince the buyer that that stain on the ceiling is only cosmetic or that sound coming from the dishwasher is normal? We refuse to believe that buyers only want to be told about the positives. Hearing something you don’t like or want to hear does not make it less true.
If you really want an agent to only point out the positives and perhaps assist in hiding the obvious, please contact another agent. If you want real guidance, please click:
First things, first. Please read below to get a head start on the home buying process.
The real estate conditions might seem ideal if you are a buyer: tons of new homes throughout Fort Collins, Loveland and Greeley, a slew of older homes, highly motivated sellers, foreclosures, auctions and lots of incentives to buyers to buy, buy, buy. That doesn’t mean that you should lose your common sense and snatch up a home without thinking. The same conditions that lure you, the buyer, also lure people willing to take advantage of your eagerness to benefit from the buyer’s market.
Here is a step-by-step guide to navigate today’s market conditions and not get duped in the process.
Buy now for the right reasons. Do not buy now just because everyone says you’re crazy to pass up these great deals. Do not buy now if you have to stretch financially to buy a lower-priced home, foreclosure or short sale. You are setting yourself up for failure. It is true that you could miss out on a good deal if you wait for prices to fall even further, but you won’t know when the market has hit bottom until it is past bottom and on its way up again. Buy now if it is the right thing to do for you and your family. Buy now because it is more affordable than renting and you need a roof over your head. Buy now because you plan on living in a home long enough to make the deal pay off. Buy now because owning your own home is an important part of your budget, lifestyle and goals.
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Understand the home buying process. There is a lot to know about buying a home, but luckily you only need to spend time and attention doing it. There is an incredible amount of information available on our web site and the Internet. You can also ask the advice of the experts, such as real estate agents, mortgage brokers and accredited home ownership counselors. Some colleges or organizations even offer classes. Knowing what you are about to get yourself into is a good idea. In other words, “look before you leap.”
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Now understand the local market. National news on the real estate market is just that: national. It may not actually pertain to Chicago, Illinois, or Windsor, Colorado. Obtain housing news and information from credible publications and broadcasts that cover your market. Read the local paper and watch the local news. Consider partnering with an agent with experience in the area. You should also be sure to learn the parameters of your market, whether by zip code, a certain neighborhood or a greater community. Our Market Conditions Report is an excellent source of local information.
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Know the “true value” of any property you consider. In today’s market of confusing circumstances, such as foreclosures and concessions, buyers can lose sight of the true value of the home. No matter what kind of property you are considering, you need to understand what you’re looking at. Inexperienced or uneducated buyers can low-ball sellers, which can sometimes pay off, but can also sometimes alienate sellers, especially those who are less motivated to sell and have a top-value home. This type of knowledge can also prevent you from spending too much. To understand the market value of homes in our area, connect with your real estate agent who is experienced in utilizing local market trends and statistics. You can see comparable homes, track sale prices in your market and keep tabs on asking prices. You should also visit open houses to see what’s out there and how it compares to the place down the street.
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Check on your credit – before you start shopping. You can obtain a free credit report from AnnualCreditReport.com, the only federally regulated credit source. You may have to pay a fee for your credit score, but you should see both your score and the report. Before you start loan shopping, you want to ensure your creditworthiness, request corrections and possibly change your habits to bump your score. You can also become a Buyers Advantage member and get a free credit report with scores.
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Be prepared and be pre-approved. Getting approved, in writing, for a mortgage, is a great first step. You can use this knowledge to shop around for the best home loan. Shop the Internet, loan officers, brokers, credit unions and other sources. Try your bank or other banks. You will get the most money at the cheapest rate if your comparison shopping is exhaustive.
