January has been a great month for buyers! The benefits of being a buyer in the local York County Real Estate market seem endless. From low interest rates to tax incentives gallore and down payment assistance programs still functioning, now is the best time in decades to buy a home. I have seen a large increase in my client activity within the last few weeks. Sellers are understanding that in order to sell their home, they must be priced ahead of the market. Some buyers still think they can find a diamond in the rough like finding hay in a hay stack. It just isn't the case guys!! Are there deals out there? Yes, there are plenty of deals and some are even "steals" but not every seller and every home is up for a low ball offer.
I can't stress enough how important it is to have an educated Realtor representing you when making the largest investment in your life. The returns can be great and often times, using a Buyers Agent as your Realtor may cost you nothing in commissions. Free representation is still a good deal last time I checked. Now that doesn't mean go out and find your cousin or aunt or uncle who's a Realtor. You want someone who is full time, and ready to put forth the hard work and efforts to understand your personal needs and keep confidential your information and most importantly inform and educate you as a buyer to understand what is best for you when looking for a home.
I have an example of a buyer I'm still working with who should be living comfortably in their brand new townhome right now. Buyer greed and stubbornness is often times one of a Realtors greatest challenges and in working with First Time Home Buyers, that challenge can be magnified. This is why I feel educating your clients is always of the utmost importance. This townhome would in a normal stable market most likely sell for $200,000 to $220,000. Fully upgraded, no other townhome in the subdivision was as loaded as this. Upgraded hardwoods, granite countertops, recessed lighting, gas stainless range and appliances, custom cabinets, surround sound throughout, masterbed room like no other! with whirlpool tub and separate shower and a custom wood finish master closet. After strong back and forth negotiations, we marked the builder down to build cost and went under contract. My buyer backed out because they felt they had been jerked around by the builder because of some hard negotiation on the builders part.
Buyers, understand a builder is going to get as much as possible out of their inventory homes but when you are buying at cost and buying lower than the rest of the neighborhood and you are buying over $50,000 less than what it would appraise for with new construction and fully upgraded, YOU WIN!! When that builder leaves the neighborhood after it is completed, prices will rise and you will be on top of the wave riding it all the way to the bank for resale!!
Don't let greed and stubbornness get in the way of a good deal. My buyer is now learning first hand the effects of buyer remorse because they admit they lost a steal of a deal and compare every house from here on out to the one they could have had.
Don't let this be you, make sure your Agent is educated and not only knows the market but understands the true value of a home and more importantly understands your needs as a buyer. Make your agent work for you and educate you. This is YOUR investment, not the Realtors. We are investing our time and money in you as a buyer, but that is our job, I work for my clients. I am employed by my clients and if they choose, I am fired by my clients so you better believe I understand their value to me and my business and I do everything educate and inform them and not just put them in a residential house, but into a home, THEIR NEW HOME.
Bringing You Home.