I was scrolling through some news videos today and came across this gal Elise Glink who just wrote a new book called “Buy, Close, Move In”, in the interview that she did she talks about the market and how sellers had all the advantages between about 1993-2007, and now the market has taken a dramatic change and is a buyers market.
Her book goes into step by step instructions on how to buy a house in this market with the everyday changing rules. She also talked about the 3 biggest mistake that buyers and sellers make and these are what I really wanted to share with you today.
3 Biggest Buyer mistakes
1 Get pre-approved and if you can’t buy then DON’T, fix your credit and save, then buy when you can truly afford it.
2 Make sure if you are getting into foreclosure properties especially condo’s that they are pre-approved before you look at them. No since falling in love with a property that is never going to close.
3. Financing, Don’t miss the opportunity, if you are not financing or re-financing now DO IT, if you are waiting for interest rates to get better, THEY AREN’T so take full advantage now.
3 biggest mistakes Sellers make
1. STAGE your house, everyone who comes by is expecting it too look like what they see on TV, you could be missing buyers by not having it staged.
2. Be realistic on Price. Yes it sucks, but you have to remember you are competing against Short Sales and foreclosure. If you don’t have to sell in this market wait it out and when the pendulum swings the other way jump on that wagon.
3. You Can’t Do It Alone. I know a lot of you think you will make more if you do a for sale by owner, but the truth is you really need an expert on the market to help you. Don’t be afraid to interview 2-3 agents and chose the one who you like the best. A good partnership will lead to good things.
Thank you for reading, I would love to hear your thoughts.