Buyer Tips
February 19th, 2008 categories: Home Buyers, Prescott Real Estate Trends
Prescott, Arizona is definitely a buyers market. There’s a lot of great properties on the market to look at, and simply put, we just need more buyers. I know some are waiting for the bell to ring that indicated the housing market has hit bottom, others may be waiting to see what’s going to happen with the economy. Be that as it may, if you’re looking for a home right now, here’s some tips to make the process easier.
1. Pre-quality with a mortgage lender. Find out exactly how much you quality for. There’s no need to look at homes you cannot afford, or on the other hand, under estimate what you do quality for. In Arizona, a LSR (loan status report) is required from a lender in order to submit an offer on a property. This is the first critical step to buying a home. It’s painless and only takes a half hour or so.
2. Choose a qualified Agent to represent you. There are a lot of buyers driving around looking at homes calling the phone number on the sign, not really working with a Buyers Agent.
An experienced Realtor is wealth of knowledge. They know market values, trends, past sales and so on. Find an Agent you work well with and make it a team effort.
Commit to one Agent, and they will commit to you.
3. Get A Home Inspection. It’s the best $300.00 to $400.00 you’ll ever spend. Uncovering major defects or potential repairs is the purpose of a home inspection. Make sure your inspector checks the roof, furnace, electrical, air conditioning and plumbing. These are items than can be very expensive to repair or replace. Interview your home inspector, ask for a sample copy of their report. A home inspector is an important member of your Real Estate purchasing team.
