buying a home in paso robles

Tips on Buying a Home in Paso Robles

Are you a First Time Home Buyer or an Investor who is buying a home in Paso Robles or the surrounding areas? If you've been searching and looking at properties, you are probably noticing that there is a lot of competition and a lot of homes that need rehabbing badly! Anything under $325,000 is the fastest moving part of the market because there are more buyers in this price range. So, when you or someone you know is thinking about buying a home in Paso Robles ---or anywhere in San Luis Obispo County, pass these tips on to them. It will increase your chances of finding a home and getting your offer accepted.

1. First, select a Realtor who knows short sales, REO's, HUD properties, and the different types of loans available. Why? Because you can still buy a rehab home using FHA by getting a 203K loan to pay for the rehab work.

2. Get pre-approved for a loan by an experienced loan officer. A good loan officer will ask you the right questions about your personal situation and will recommend a specific type of loan for you. Be sure to ask him or her about USDA loans (100% financing), FHA, FHA 203K loans and about conventional as well.

3. Ask yourself if you are interested in buying a home in Paso Robles that is in move-in condition or if you want to get a fixer and do it yourself. Since 1/3 of the market are short sales , 1/3 are REO's or bank owned properties (foreclosures), many of these homes are NOT in move in condition and have NOT been kept up.

4. Keep an open mind. Buying a home in Paso Robles is a process. You may find a great home right away or it may take weeks for you to see something you want. The key is to be flexible and know what your options are, and because it is a process, you may find that your needs and wants change as you see what's available in your price range. We all want to save money, but don't skimp on your home. You will be living in it for years, so you should be happy.

5. Make sure your agent checks for new listings, price reductions, and homes that come back on the market ---EVERY DAY! You want to be the first one to see an opportunity!

6. Understand how buying a short sale or foreclosure affects you. Purchasing a short sale could take several months and may never close. A REO/Foreclosure can close in 45 days!

7. Be ready to move quickly. When buying a home in Paso Robles, have all your ducks in a row for financing, etc. so when that house does come on the market, you can put in an offer quickly. Your agent will be able to tell you additional things about the house that will effect how you will put in an offer.

8. When in a multiple offer situation, write a CLEAN offer! That means, don't ask for concessions such as closing costs, home warranties, etc. You may have to increase the purchase price, too. It depends on the situation, the type of home and if it's listed under market value. Your agent should know all of this, and make sure you discuss strategies on how you can be the offer the bank or seller selects.

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I hope these tips on buying a home in Paso Robles helps you in your pursuit of your home! Please feel free to call me at 805-296-9005 or email me anytime! I'd love to help you.