Tim’s Two Cents – First Steps When Purchasing a Home

This month I have just completed the latest video to add to our web site’s video blog that briefly describes how we build a foundation with our clients who are looking to purchase a new home. Whether you are looking for a new home to live in or an investment property the initial stages are the same.

Our clients don’t tend to get cold feet or build unnecessary anxiety going into a home purchase because Kristine and I spend the time in the very beginning to develop a strategy and plan for success. There is a book called “If You Don’t Know Where You’re Going… You’ll Probably End Up Somewhere Else” by David P. Campbell Ph.D. I believe that this quote conveys a very simple, direct message. Without an organized plan, one cannot expect to achieve their desired results. Rather than finding the home and then figuring out how to pay for it and purchase it, Kristine and I set aside our time and share our experience and expertise through a face to face foundation meeting with our clients to gather information, discuss the current market (because it is always changing), get organized and set the ground work to help us best serve you in your real estate endeavors. Nothing bothers me more than someone we know and care about stating that we have someone who we think can get us through or just simply has a real estate license.  Your home is most likely your largest asset! You should want to work with someone who can provide exemplary results, not just get the transaction completed.

I suggest spending the time to interview several brokers prior to committing to one individual to work with. You will save a ton of time and money in the long run. If you express to an individual who has a real estate license that you are considering purchasing a property and their response is that they can send you some properties, run the other way.  This is not proper professional guidance. Anyone can log on to a number of real estate web sites and see almost every property currently listed for sale in the county.  Some of the most important factors to consider when placing your trust in a buyer’s broker to assist you are; is the broker you are working with full or part time, when you google their name does a professionally real estate web site show up first/top of the list, do they have residential mortgage experience in addition to sales experience and have they been recognized & awarded for their service and performance? 

I have my hand on the pulse of the market and I am beginning to see a slight shift in our San Diego market place as inventory begins to build, just a little bit, and longer, more normal, market times for properties throughout the county are noticeable. In some cases we are even seeing price reductions after longer days on market. This provides buyers in the market a great window from now until at least the end of the 2016 calendar year to lock in a great interest rate and negotiate better terms, conditions and prices for properties as sellers need to sell!

The Federal Reserve has continued to express optimism about the economic recovery and is committed to wrapping up quantitative easing programs. Much of the bull market we’ve seen over the last couple of years can be attributed to the Fed’s easy money policies and its commitment to supporting economic growth. Now that the country is finally on a better foundation, investors are taking comfort from the Fed’s readiness to take the training wheels off the economy and return to normal monetary policy. We have seen one interest rate hike in the Fed Funds Rate, but it actually contributed lower mortgage interest rates for the time being.  

Obviously there is far more that goes into the home buying process.  I hope that you find the above helpful and I am open to helping you to understand how you can put my 21 years of full time, uninterrupted, award winning real estate sales experience behind your next purchase! Call Kristine and me to discuss your personal situation and learn how to gain our services for FREE!  It’s never too early to start planning!

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Please share this market update with family, friends, or colleagues. Kristine and I would love to be introduced and have the opportunity to work for someone you know!

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