Know The Market
Homebuyers must become familiar with the market for homes in the area being considered. Why is it important for you to “know the market”? You need to develop a “Gut Feel” for the market so that you know when the right home comes up at the right price.
How do you become familiar with the real estate market in the area you are considering? SEE LOTS OF HOUSES!!!!
Open Houses
Open houses are a great way to get a feel for what is available.
A word of caution with respect to open houses. The agent (or seller) who is holding the open house has a specific goal in mind. They want to find a buyer who falls in love with the home. They may ask you personal questions designed to help them “sell” you this particular home. What should you do?
Don’t let them know
- How interested you are in the home (be courteous, but don’t start jumping up and down and yelling - THIS IS IT!)
- How much of a mortgage you qualify for
- Price range of homes you are looking for
- Your income
- Where you work
- What you do
- When you have to move
Don’t play poker with a mirror behind you so everyone can see your cards.