HOMEBUYING 101 - Step 1... Get of the Fence!!!!

Even after 20+ years buyers still amaze me. In a market with record low prices, readily available financing, record low rates and mountains of foreclosures all there for the picking... Buyers are still sitting on the fence waiting. Waiting for what I ask?

It seems that despite how good a buy something is, buyers are always looking for a catch. I say a program on television (20/20 I believe) where a man in a suit was standing on the street corner handing out crisp $20 bills and almost no one would take one. I was amazed. It just goes to show how most people believe the saying that "if it's too good to be true".

I am convinced that the same applies to real estate today. I am seeing some fantastic deals selling in our area everyday. How do people get such great deals? Simple...THEY GET OFF THE FENCE and write an offer. No other time in the past 20 years have I seen so many sellers willing to practically give away their property.

To all buyers I say... WRITE AN OFFER.... Please! It seems that I tell every single buyer that same thing and what do I generally get? Nothing... no offers. Now I recognize that there has to be some interest to begin with but what is holding everyone back I wonder?

If I were in a position to buy a home or property, the first thing I would do is get in touch with a REALTOR who is an expert in the area I am looking and sit down with him or her and devise a game plan. I'd enter into a buyer broker agreement and I would get them out hunting for me.

The key to success is as simple as:

1. Have your financing or proof of funds lined up in advance
2. Do your homework and know the market
3. Learn what is actually selling and for how much (learn the comps)
4. Go look at a lot of properties so you'll know the good one when you see it
5. Don't be afraid to write and offer... if its not accepted you are under no obligation and have little to no risk
6. Write your offer carefully leaving yourself an out for financing and inspections

If you take those 6 steps you will find that you will eventually find yourself laughing all the way to the bank. In 10 years (at least in this area) you'll be so proud of yourself because on the grand scheme of things... everything is a bargain now.

Feel free to contact me for assistance in buying or selling in the Grand Traverse Region at jules@julesyates.com.