Buying and Selling Real Estate: Ten Tips

Real estate is changing hands in ways that make headlines.  Whether you’re a buyer or seller, here are some tips to help you make the best deal.

BUYING:

So you want to buy a house?  In this market?  Are you nuts?  Actually, it depends on where you are.  You could be very shrewd right now if you pick the right spot, the right pricing trend and bid aggressively.  It requires homework, homework, homework.
 
Example: My wife scoured a market, screening 90+ houses.  We eventually found a fixer-upper for $162K.  We offered $160K the same morning it was listed.  They took it on a handshake.  One year later—with no improvements!—we sold it for $208K.  For those of you without a calculator, that’s a 30% return on the investment.

And you can do it, too.  Here’s how:

1.  Pick a growing area.  This is essential.  Yes, it’s hard to predict economic cycles and which metropolitan areas are going to prosper over the next year or so.  However, if you read the business pages regularly, you’ll have a much better idea of where to buy/invest.

2.  Learn the market.  This is also essential.  You’ve got to know what’s out there, what houses are going for and how to spot a bargain from the overpriced.  When you find your bargain, you probably won’t have much time before the competition gets wind of it.  So you must be ready to make a solid offer right away.

3.  Make your offer contingent upon a thorough inspection.  There’s nothing worse than buying something with plenty of infrastructure problems.  They’ll cost you time, money and aspirin.  If you discover only a few problems, try to get the seller to lower the price to counterbalance the flaws in the property.  They often will.

4.  Finally, recognize that you will not likely land your first prospect.  Therefore, be patient and be prepared to keep looking until you find the right house that makes good economic sense for you to purchase.

Follow the above four tips and you’ll do better with your property investment.

SELLING:

What to get the best price for your home?  Just follow these six tips:

1.  Everything (usually) looks better in brighter light.  So let the sun shine in.  Open curtains and blinds and turn on lights in all the rooms.

2.  Fix up those little things.  Oil or WD-40 those squeaky door and window hinges.  Tighten any loose door handles.  Replace broken shutters, fix leaky faucets, etc.

3.  Deodorize!  Nothing turns off a potential buyer than a “funny” or unpleasant smell.  You’ve heard of the bake bread or cookies in the oven trick…it’s a lot easier to just use plug in deodorizers.

4.  One of the easiest things to do is clean the place.  Clean in the corners, clean the cabinets, re-grout the kitchen and bathroom sinks, tubs, etc.  Wash the baseboards, make the place shine, especially in the entrance way.

5.  Get rid of the clutter!  Buyers need to envision the home as they would live in it.  Anything interfering with that vision works against you in selling your home to them.  So divide all your possessions into three groups:

     a) things you really need to live in the house,
     b) things you don’t really need but want to take with you to your next home, and
     c) things you don’t want to take with you and should really toss.

Now, put those things your want to take with you to your next home in a rental storage facility.  Hold a garage sale and/or donate everything else to charity.  That’ll leave your home looking elegantly simple…the best way to present it to potential buyers.

6.  Paint, paint, paint.  Virtually every home has some areas that could use a fresh coat of paint.  It is one of the most important (i.e., best and inexpensive) investment you can make is maximizing your sale price.  Make sure you patch cracks and peeling paint first, though.

Follow the above six tips and you’ll sell your home faster and for a better price that if you didn’t.

For more information: <a href=”http://www.denver-real-estate-homes-for-sale.net”> http://www.denver-real-estate-homes-for-sale.net</a>

Buying and Selling Home in a Balanced Market

Over the last several years most buyers and sellers have dealt with either a buyer's or seller's market. A buyer's market is what the market is called when there are more sellers than buyers, so the listings take longer to sell and buyers can really shop around until they find exactly what they have been looking for. A seller's market occurs when there are few homes for sale and buyers have a lot of competition for homes. For the first time in a long time, the market is shifting toward a balanced market, where it favors neither buyers nor sellers. When the market is more balanced buyers and sellers need to approach the buying and selling of real estate a bit differently.

<b>Great Tips for Those Buying and Selling in a Balanced Market</b>

Most of the time, those that are selling their home can afford to buy a new home before they sell their old home. In a balanced market this is a very risky move because you may be able to find a home that you like before you are able to sell your home. A balanced market often causes homes to sit on the market for a bit longer, so you should be sure that you can afford to have the home sit on the market for a few months before it sells. When the market is balanced you also cannot count on the selling price of your home, so buying a new home before you sell can leave you in a bad place if you don't have savings to fall back on.

On that note, it's important not to count on a specific selling price in a balanced market. Because homes sometimes take a bit longer to sell, it's important to be open about the selling price of your home if you want it to sell. Buyers are often more picky, so you may have to drop the price of your home if you want it to sell quickly. If you count on the selling price of your first home when you buy your second, you can end up in some serious trouble. For this reason, it is often best to put off buying a new home until you sell your current home.

Another option when you are selling and looking to buy at the same time is make a new buy contingent on the first home selling. This can be a risky move, but if your offer is good many sellers will accept the conditions of your offer. Your Realtor can write up the offer so that you have six months to sell your home before you close on the new home. This will allow you some time to attempt to sell your current home before you officially get in over your head with a new home. Again, it's risky to put this into your offer, but if you are careful it can work for you.

<b>The Bottom Line</b>

The bottom line is that in a balanced market it is risky to buy before you sell. Depending on your specific market it can take months to a year to sell a home, so it's best to wait it out. A good tactic that many people use in a balanced market is to sell your current home first. This will give you plenty of time to decide what sort of home you want, so that you aren't rushing through the home selection process. By the time your home sells you will know exactly what you want and you can go for it. If it happens that your home sells really quickly in the balanced market, that's okay! An interim rental will cost you very little and will allow you to sell and move out of your first home, but continue to keep looking for that perfect home to buy. You will also know exactly how much money you have to put into your new home if you sell first, so you can buy a new home with confidence.

Another option is to sell your home, but allow 30 or even 60 days to close on it so you can take that time to either find a decent rental or find something to buy without rushing. Long closes are often best for all parties, so don't be afraid to ask for a long close to give you and your family time to decide where you are going from here.

Selling first just makes the most sense. Because you don't know how long your home will take to sell in a balanced market and you cannot determine how much it will sell for, it is just the safest route to take. If you are a risk taker, than you don't have to go this route, but most people find that the sell first philosophy works better in the balanced market.

Affordable Homes: Real Estate in Nation's 10 Most Cheap & Livable Metro Areas

The 10 most livable and most affordable real estate metro areas in the United States have a number of other favorable characteristics in common, according to a new HouseHunt “Current Real Estate Market Conditions” survey conducted by HouseHunt, Inc., a consumer-oriented Internet firm that provides free information to thousands of homeowners, home buyers and home sellers across the nation. The survey shows median home prices range from $130,100 to $194,400 for existing homes for sale and also found:
• The majority of the 10 metro areas report balanced, good-to-active housing markets with sellers usually getting 95% or more of their asking prices. Inventories of unsold homes are mostly limited.

• The majority of the 10 metro areas are experiencing strong job and population growth and good economic news. They offer quality lifestyles, good schools and solid family recreation along with other amenities. Sales data shows that many recent home buyers are relocating from other, often more costly areas.

• All 10 metro markets are attracting both first-time and move-up buyers because of affordable prices, low mortgage interest rates and multiple financing options.

• Median real estate prices for existing single-family homes in the 10 metro areas range between $130,100 and $194,400, compared to the national median real estate price of $188,800. Four of the 10 areas reported double-digit price appreciation in the past 12 months.

• All 10 metro areas have major universities located there.

• Five of the 10 metro areas are popular tourism destinations. Nine of the 10 metro areas are located in warm to moderate climates.

The 10 most livable and most affordable metro areas as determined by criteria developed by “Places Rated Almanac” (David Savageau) and the latest quarterly median sales prices compiled by the National Association of Realtors are:

1. Salt Lake City-Ogden, UT $157,000

2. Tampa-St. Petersburg-Clearwater, FL $172,800

3. Raleigh-Durham-Chapel Hill, NC $175,600

4. Houston, TX $138,100

5. Phoenix, AZ $193,800

6. Cincinnati OH, $139,600

7. Louisville, KY $130,100

8. Austin-San Marcos, TX $154,100

9. Orlando, FL $194,400

10.Nashville,TN $152,100.


Four of the 10 metro areas – Tampa-St. Petersburg-Clearwater, Raleigh-Durham-Chapel Hill, Nashville and Austin-San Marcos – are also listed in the latest edition of Lee and Saralee Rosenberg’s “50 Fabulous Places To Raise Your Family” (Melissa Giovagnoli). Like Savageau, the authors give high marks for schools, jobs and business opportunities, family fun, housing affordability, living costs, climate, health care, transportation and quality of life.

“With all the negative news about spiking home prices and the widening affordability gap, it’s refreshing to find highly desirable metro areas where most buyers can find affordable homes,” said Michael Bearden, president and CEO of HouseHunt, Inc. “Our quarterly ‘Current Market Conditions' reports are accessible on many of our HouseHunt.com agent websites across the country. For recent home sales in their neighborhoods, homeowners and home sellers can also find this information easily and immediately on HouseHunt’s new moveUp.com website.”

Mark Jenkins of Realty Executives, exclusive HouseHunt member agent for Salt Lake City, described housing activity in his metro area as “improving” from a depressed buyers market.” He said many buyers are relocating from out-of-state to take advantage of the lifestyle and lower home prices. A median price of $157,000 would probably buy a 2,000 square foot home with three bedrooms, two baths and a two-car garage on a one-third or one-four acre lot in a good location. Highest home price appreciation is occurring near the University of Utah. Another hot spot is Park City, a popular ski resort in the nearby mountains where Lee Merryweather of World Class Realty is the exclusive HouseHunt member agent.

An active housing market is reported in the Tampa-St. Petersburg-Clearwater metro area by Linda Ippolito of Keller Williams Realty, exclusive HouseHunt member agent for Bayshore, Westshore-South Tampa, and Davis Island-South Tampa. She said the whole area is exploding with growth and new industries. Available housing is in limited supply. Although the median price home is $172,800 for the entire metro area, median home prices are closer to $400,000 in South Tampa. Waterfront properties are also priced higher. Average price appreciation is 15.7% in the past year. A slower-paced but high quality lifestyle is reported in the Raleigh - Durham - Chapel Hill metro area by Ray Lenahan of Robert Gray Realtors, exclusive HouseHunt member agent with Robert Gray for Wake Forest, Rolesville and Youngsville.

“The big attraction is our Research Triangle, three major universities, excellent quality of life, and moderate weather,” Lenahan said - He said the median home price of $175,600 in the metro area is probably closer to $190,000 in his market area. “That will buy a new home with 2,000 square feet with three bedrooms, two baths on a half-acre lot. Either that, or, it would buy an older home in a more established neighborhood,” he added.

Houston, with its “can do” entrepreneurial spirit and liberal-to-zero zoning restrictions, is attracting people from both the East and West Coasts to relocate and to invest in rental properties, according to Kathi Frank of RE/MAX The Woodlands, exclusive HouseHunt member agent for The Woodlands and Woodland Springs. The Woodlands is a 27,000-acre planned community located 27 miles north of downtown Houston. “Median price home for the entire metro area is $138,100,” she said. “That will buy a new, 1,400 square foot home from a production builder in North Houston or Woodland Springs.” She added: “Estate properties are priced from the low $200,000s to more than $3 million.”

Reva Schafer of West USA Realty, exclusive HouseHunt member agent for Scottsdale and Northeast Phoenix, reported a limited inventory and a very active seller’s market, with sellers usually getting 100% or more of their asking prices. The median price for the metro area is $193,800 “but hard to find anything under $300,000 in my area,” Schafer said. “It’s more like $350,000 to $400,000 as a median price in Scottsdale.. Lots are jumping in price. So are houses.” Year-to-year appreciation is 24.4%! She cited tremendous growth in the suburbs of Peoria and Chandler. “A year ago, investors were buying from builders and flipping (re-selling) the properties. No more. Now, a buyer must live in the property for at least one year to qualify.”

Good job growth, corporate relocations and an improving local economy is fueling the housing market in the Cincinnati metro market, according to Saralou Durham of RE/MAX Preferred Group and exclusive HouseHunt member agent for suburban Montgomery and Hyde Park in Hamilton County, OH. “We have fabulous cultural and recreational facilities and a good quality lifestyle,” she said..”A median home price of $139,600 seems a bit low, depending on the area. That amount of money will probably buy a small two bedroom, one bath home needing some repair or remodeling in one of our small suburban communities.”

In Louisville, Charlotte Wright and Michael McConnell of Evergreen Realty are exclusive HouseHunt member agents for suburban Jeffersontown. “Louisville is now the 16th largest metro area in the nation,” Wright said. “We’re a hub for UPS and have two Ford plants located here. Military personnel stationed as nearby Ft. Knox and their families are also relocating here, she said. “The median price of $130,100 is probably low – $150,000 would be more accurate. The latter will buy a three bedroom, two bath 1,200 square foot house with a garage in a good area.”

Ann Parr of RE/MAX Austin Advantage and exclusive HouseHunt member agent for Westlake & Lake Travis said well-priced listings are attracting multiple, full-price offers in a very active seller’s market. Average time on the market is 60-90 days. “We have younger professionals who want to live close to downtown but the primary place to live is by the lakes,” she said. Prices range from $150,000 to $6 million. “Nice homes can be purchased for $250,000 to $350,000. The median price home is $154,100 in Austin. That would probably buy a starter home in the Round Rock area or a home needing remodeling in Central Austin. Patio homes for retired people near Lake Austin sell for $200,000.”

One of the hottest of the 10 metro markets on the list is Orlando, according to Steve Farah of the Royal Realty Group. Farah is exclusive HouseHunt member agent for Alafaya & Waterford Lakes and Kissimmee: “We’re experiencing unbelievable growth and home appreciation,” he said. “Our seller’s market is so active that listings sometimes last only hours, not days. Buyers frequently must act immediately or the property will be gone!” He feels that the median price of $194,400 is probably low because of high demand and the low inventory. “A median price of $250,000 would be more realistic and would buy a three –bedroom, two bath home with 1,700 to 2,000 square feet.” Since the first quarter of 2004, the median price home has appreciated 28.7%.

Nashville, the 10th ranked metro area on the list, offers a relaxed, friendly lifestyle and affordable home prices to newcomers, according to Mary Barbee of Coldwell Banker Andrews and Associates. Plus, there is no state income tax. Barbee is the exclusive HouseHunt member agent for South East Nashville. “The median price of $152,100 seems low – it’s more like $170,000, depending on location. That amount of money would probably buy a three-bedroom, two-bath new home with 1,200-1,500 square feet in the suburban communities of Madison and Smyrna,” she said. The median home price is up 11.3% in the past year in the Nashville metro area.

Advantages to Shopping for Real Estate Online

The real estate market is one of the most complex markets in the entire world due to the fact that it is in a continuous change, thus making it a very dynamic market. The internet has a lot to offer consumers regarding real estate and as a result it is a great place to start shopping. Some of these advantages are:

- It is inexpensive, if not free to list your home in an online property listing service.

- It is a quick and easy method to advertise your property that is for sale/lease or if you would like to buy a property.

- The buyer and seller have direct access to information about the property in question. This makes other forms of communication between the buyer and the seller obsolete. The internet is easy in comparison to the old-fashioned method of answering dozens phones calls or setting up numerous meetings.

- Many websites that deal with real estate allow you to include up to 5 photos of your property. This is a lot more in comparison to a regular newspaper and you have complete control over the photos’ quality.  In addition you can highlight specific features about your property with the potential buyers. This can be very helpful if you are working to attract buyers from outside your local geographic area whom potentially need more explanation of certain elements.

- Once listed, your home is available until you will sell the property. This is a big advantage if you consider that for a newspaper ad you will systematically have to pay a fee week after week.

- These online real estate listing services have a nation-wide audience which will make your ad visible to the entire country;

- Searching for the right house is very easy as these websites have filters which will allow you to only see the houses that meet your specific requirements. Therefore you can spend time looking only out houses that meet your needs without having to waste time looking at houses you aren’t interested in.

Using the Internet for real estate will make you your own real estate agent without having to pay a great sum of money to an agent and also you will have full-control of the entire activity. Whether you are a home buyer or seller, it is very easy to search for the perfect house as the online offers are endless. Or, if you would like to sell a piece of real estate, there is no safer and quicker way to do it.

Online real estate has become popular and is consuming are looking to the internet more each day as an easy place to get good information. As a matter of fact, more than 5 million people use the internet for real estate issues every month. With numbers like this it is easy to see how the internet can improve your chances for selling or buying a home.

Another major advantage of real estate moving to the internet is that you won’t need a real estate agent to start your search. This is very important because we all know that real estate agents are of value but sometimes you just want to look.

All in all, there is no better, safer and easier way to search for a home or to sell one than online as the internet has a lot to offer in the real estate market and it is rapidly developing, gaining more and more consumers everyday and thus improving your chances for a profitable buy/sell.

A Mover's Guide to Las Vegas Real Estate

Las Vegas, Nevada is a growing area, not just for vacationers, but also for individuals and families that are moving there as well.  A common misconception is that Las Vegas features only fancy hotels with grand casinos or resort areas for family travelers; however, many people move to Las Vegas to enjoy other benefits. Las Vegas offers educational opportunities, tax breaks, employment opportunities, and much more.  So, finding Las Vegas Nevada real estate is getting easier as the city continues to grow.

Moving to Las Vegas from another state can seem overwhelming.  Not only do you need to find Las Vegas real estate, but you also must become familiar with Nevada state regulations for moving to that area.  You can do all the research yourself or hire a dependable Las Vegas real estate agent to assist you in your search.  Whether searching for Las Vegas condos for sale or Las Vegas homes for sale, choosing the right Las Vegas real estate agent will save you from many headaches.

How to Choose a Las Vegas Real Estate Agent

Be sure the agent you choose is willing to go the extra mile for you.  If you live far away from Las Vegas, you'll want an agent who can do the legwork for you in finding a new home.  The last thing you need is to travel back and forth only to see new homes that do not match your criteria.  The real estate agent might also be willing to help you find Henderson real estate if you want to live on the outskirts of Las Vegas.

Choose a Las Vegas real estate agent who will carefully research each new home to be sure it fits perfectly with what you want.  Be sure they offer online services as well so you can view the possible homes online before taking a trip. This will save you much time and money.

Building a New Home in Las Vegas

Perhaps you'd rather build a new home in Las Vegas.  If so, choose a real estate agent who can help you find affordable Las Vegas land in a good location.  The agent might also be able to help you find a dependable builder in the area.

Other Helpful Services

Other services your agent might provide that can benefit you when buying Las Vegas real estate include providing connections with an affordable mortgage lender, experience in foreclosures, repossessions and estate homes, and experience in corporate relocation.

Where to Look

To find a dependable Las Vegas real estate agent, start by searching online.  The Web is a great resource where you can learn all about an agent before you ever meet them!  This too will save time and money.

Whether you're planning on moving into a new home, a Las Vegas condo, or building a Las Vegas home, you'll find that hiring a dependable Las Vegas real estate agent to be a great time-saver!

10 Steps to Getting Top Dollar for Your Home

When you decide to sell your home you should immediately begin referring to it as a house. You’ve become emotionally attached to this place and it’s now time to say goodbye. Start detaching yourself by making some changes that will help you with the sale of the house.

You probably have accumulated a lot of clutter over the years. This must be the first step.

1.  Unclutter your home. Start in the basement and either throw things out or rent a locker off premises to store it until you move but prospective buyers need to see what the house looks like behind all your stuff. This means going room to room and clearing everything out that makes it look junkie and disorganized.

2.  Neutralize the personal nature of your home. You may love the native tapestry on the living room wall from Bora Bora but I’ll guarantee 95% of   your prospects will have it on their mind when they leave your home and not in a good way. Knick knacks and generally all things that you’ve previously enjoyed should be stored away until after the sale, that includes grandma’s spoon collection that takes up half a wall in the kitchen. Replace these things with neutral items like picture frames or vase with a simple arrangement.

3.  Minor cosmetic work. Once you remove the clutter you will see all the things that you’ve been meaning to get to over the years. Painting where necessary, new carpet/s, moldings repaired, cracked plaster and re-taping/ repairing drywall. When making these improvements think neutral colors for any coverings be it paint or carpets. If you have hardwood floors sand them and finish them. Area rugs can look amazing. Whatever you do, don’t over do it. Try and think like a buyer.

4. Hire a professional cleaner. Once you have the house cleared you should hire a professional cleaning crew to wash the walls, windows, work over the kitchen and bathrooms, clean the floors and shampoo all carpets that don’t need to be replaced. Your house should be spotless and kept this way for the duration.

5.  Staging each room. If your rooms are smaller rearrange the furniture to make the room look bigger. For example removing some furniture is better than having too much cramped in. Set your furniture up in conversation pit style. Like a gourmet coffee house, make it cozy. Pull couches away from walls to give the appearance of depth. Remove wall clutter, one or two pictures but no more. Generally make it look inviting.

6.  Kitchen and bathrooms. These are the most important rooms in your home to a buyer. Make sure they are impeccable. Plumbing fixtures should be working properly and look like new or they should be replaced. Use a good cleaner or even a metal polish to make them gleam. Showers and tubs need to be spotless! Sinks and vanities need to be pristine and uncluttered. Kitchen cupboards should be orderly, doors opening and closing properly, drawers the same. I can’t stress enough how important these two rooms are to your potential outcome.

7.  Doors and windows. First thing prospects see when they walk in your home is a door. Make sure its painted or cleaned up and that it will open and close properly. This goes for screen doors as well. Often screen doors are a problem people let go. Not anymore. Windows should all be cleaned and be sure if someone wants to open them that they work properly. If they have been painted closed as is the case with some older homes, now is the time to get them to open. Do whatever it takes.

8.  Garages and workshops. These are the second most important areas. Again remove all clutter from the garage and make it accessible so you can actually park your car in it! As for the workshop, try and organize it so the handy person prospect will appreciate what they can do with their “new shop” when they move in. It’s all about your prospect picturing themselves in your house.

9.  Family effort. Everyone in your family needs to be on board with the presentation of the house. This means your kids need to buy into the project and keep their rooms tidy. Bribe them if you need to but everyone has to help maintain the appearance of the entire house.

10.  Odors and pets. Wow, is this ever important. If you have pets only you really love them. When you walk into a house with dogs or cats you immediately smell them, especially if you don’t have your own. Keep litter boxes fresh and clean daily. Restrict your animals if at all possible to certain areas of the home until after the sale. Vinegar and water will do wonders when you clean their areas every other day until the sale is complete, and top it off with effective air fresheners wherever you need them. Vacuum often with carpet fresh powders two or 3 times a week.

This sounds like quite a bit of work and it is. Try and remember that by following these tips you could easily add five to ten thousand dollars to the sale price of your home, maybe more. A little elbow grease now will be a solid investment.

The Author is the President/CEO of www.realestatemate.com , www.homeheap.com  and www.agentsmate.com . He has over 26 years experience in the real estate industry.

©Copyright 2006, Used by Permission, All Rights Reserved

5 Ground Rules for Home Buying Success

There are few purchases in life that carry the financial and psychological weight of buying a home.  Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, it is important to understand the ground rules for success in the world of buying a home.

Making the wrong decision in buying a home can have devastating and long lasting effects, while making a wise decision in home buying can greatly enhance the overall value of the investment.  It is necessary to learn all you can about the world of home buying and mortgages before setting out to purchase the home of your dreams.

While there are plenty of web sites designed to help first time homeowners learn all they can, most financial experts say that there is no substitute for the good old one-on-one learning. Fortunately, most mortgage lenders, home inspectors and real estate agents will be able to provide this kind of one-on-one learning.

When buying a home it is often best to use a systematic approach as this is often the best way to be sure that all decisions are based on information and reason, not on impulse or emotion.  Buying a home can be an emotional process, nevertheless it is imperative to keep your emotions under control and not let them cloud your judgment.

There are five basic ground rules when it comes to buying a home and shopping smart, and they are:

<b>#1 – Get your financing before you get your home</b>

There are few things in life as disappointing as losing out on the home of your dreams due to not being able to secure funding.  While the desire to get out there are search for that great home is understandable, it is vital to line up the financing you will need before you start shopping for a home.

Getting the financing ahead of time has a number of important advantages, including knowing how much you can buy and gaining more respect from the listing agents.  By knowing how much home you can afford before you shop you will avoid wasting your time looking at unaffordable properties, and the listing agent will be more than willing to show you the homes in your price range.

It is also important to take a good look at the various types of mortgage on the market before getting started in the home buying process.  These days, mortgages come in far more choices than the typical 15 or 30 year. For that reason, potential home buyers need to understand how each type of mortgage works, and to gauge which mortgage is the best choice for their needs.

<b>#2 – Look at the community, not just the home</b>

It is a good idea to look at the entire community, instead of focusing on a single home. This can be a particularly important thing to consider for those moving to a new metropolitan area, as these buyers will be unfamiliar with the local climate and lifestyle.  It is crucial to determine the areas of town that are most desirable, and to consider things like distance from work and local shopping opportunities.

We have all heard that location is the key consideration when it comes to real estate, and that is certainly the case.  Buying a house in the wrong area can be a big mistake, and it is important to choose the location as well as the home.  Potential buyers can learn a great deal about the nature of the various neighborhoods simply by driving around town, as well as by talking to other residents.

<b>#3 – Be fair with your first offer</b>

Trying to lowball a seller on the first offer can backfire, as can paying too much. It is important to carefully evaluate the local market, and to compare the asking price of the home with what similar houses in the neighborhood have sold for.

Comparing the sales of comparable homes, what are known as "comps" in the industry, is one of the best ways to determine what is fair, and to make sure that you neither overpay or underbid on the property.

<b>#4 – Always get a home inspection</b>

Always investigate the home for any possible defects before making an offer.  Compared to the cost of the average home, the price of a quality home inspection is virtually negligible. Hence, get a good home inspection done before you buy.

To find the best home inspector, it is a good idea to seek out word of mouth referrals as many of the best home inspectors rely on word of mouth advertising.

<b>#5 – Do not alienate the sellers of the home</b>

Many real estate deals have fallen apart due to the personal animosity of the buyer and the seller.  It is important to avoid alienating the seller of the home during the process, and to avoid nitpicking every little detail during the sale.

Keeping the good will of the seller will help the transaction go smoothly, and it will provide the best environment for seller and buyer alike.