Everyone has an opinion and/or a prediction about rising or falling home prices and rising or falling interest rates. Potential buyers and sellers are left wondering if they should act now, or wait a while.
No one knows. But those really aren't the questions home buyers and sellers should be asking themselves.
For buyers, the right questions are:
Do I plan to stay in this community for at least the next 3 or 4 years?
Can I find a home I'll enjoy living in for the next several years?
Will my credit scores allow me to take advantage of today's low interest rates on a fixed-rate mortgage?
Will the payments on that home fit comfortably into my budget, so that I can continue to enjoy my favorite activities?
When you let friends and family know you're getting ready to purchase or sell a home, you'll get plenty of advice. As a real estate professional, I advise you to be wary of it.
Both buyers and sellers have been disappointed with their results when they took the wrong advice from a friend, a neighbor, an attorney, an accountant, Cousin Gus who sold real estate back in 1982, or Aunt Sally who sells real estate in another State.
But think about it…
Those who live in your community can give you at least one good bit of advice – they can recommend an agent who served them well (or warn you about one who did not.)
And anyone who has been involved in a real estate transaction recently can give you something more - warnings to help…
With growing competition for well-appointed, properly priced homes in Vancouver, buyers who want to "win" must be ready to take action quickly.
That includes becoming pre-approved for a mortgage loan before you begin the search. You'll know your spending limit and any restrictions on the home you can choose. You won't waste time on homes that clearly won't work. It also includes being willing to drop everything and view a new listing if your agent calls and says "I think I've found it".
And then, of course, it means making the decision and writing the offer before "the perfect home" is under contract to someone else.
We're hearing the story repeated again and again – buyers see the house they love and decide to think about it…
Vancouver homeowners are understandably disappointed when they list a home for sale and after months on the market it expires unsold. They wonder why, when other homes in their neighborhood are selling, theirs did not.
Often the reason why can be found in one of these common home selling mistakes:
Poor presentation – failure to do the fix-up, clean-up,and de-cluttering activities their agent recommended.
Being present during showings
Putting limits on days and times for showing
Insisting on 24 hour notice for showings
Failing to negotiate low offers
And of course – choosing the wrong agent
If you're thinking of selling...
Before you choose a Vancouver agent, interview the agent, read his or…
When you begin the search you're filled with the hope and belief that the perfect home is out there somewhere, just waiting for you to find it.
That could be true – but it probably isn't.
Searching for a home that you believe is perfect in every way can leave you frustrated, frazzled, and tired from spending days or weeks on the hunt.
So stop and think twice. Choose the most vital "must-haves" and focus on them. And think about the fact that you CAN make changes after the house is yours.
For instance, if you must have a fence for your dogs or for your children's safety, find out what it costs to have one built and adjust your housing budget to accommodate that expense. That new fence could be up within days of…