Are you buying a home in San Diego in 2016? I am a believer in The Five P's: Proper Planning Prevents Poor Purchases! Here are three important tips for you if you are planning to buy a home in 2016:
1. Take the time to find the right buyer's agent! Your San Diego buyer's agent will have the greatest influence on whether your purchase process is smooth or extremely frustrating. There are so many "buyer's" agents out there who really work for the seller. There are so many agents who only work part time. There are so many agents out there who don't treat people the way they want to be treated.
Find a top buyer's agent who you are confident will work diligently, quickly, intelligently, and only on your behalf (the buyer's behalf) without major conflicts of interest throughout the purchase process. I recommend hiring an exclusive buyer's agent (and so do these people). By the way, I'd like to apply for the job!
2. No matter how "qualified" you believe yourself to be, find a top mortgage professional who is willing to give you a thorough mortgage review up front (before you start looking at homes). The mortgage lending guidelines are always changing, and no one wants to be surprised a week before closing with news that your bank can't approve your loan! Meet in person or over the phone with a top mortgage professional who is willing to spend an hour with you going over your possible loan options as well as discussing any potential hindrances to getting your loan. Do this up front, and it can be smooth sailing the rest of the way! The buyer's agent you hire very likely has loan officer referrals for you, so I recommend working on Tip #1 first.
3. Get to know your local market. Yes, read the real estate section of your local newspaper. Yes, read national articles about the housing market. Most importantly, work with your San Diego buyer's agent to get a clear picture of the trends and competition in your hyper-local market. San Diego County has many different market trends happening at the same time, depending on what price range, what location, etc. you are looking to buy in. You don't want to be dropping low-ball offers on every home in a market where 90% of the homes are getting multiple offers and selling over the list price, and you don't want to be writing desperate, over-priced offers in a market where homes are taking a year or longer to sell. We have actually experienced both of these trends in the last 12 months in San Diego (again depending on your price range, location, etc.).
During our Globella Buyer Strategy Session, I set aside time to share research with you based on your search criteria and the hyper-local market that fits your criteria. I discuss concepts with you such as absorption rate and "healthy markets vs. seller's markets" and help you better understand who your competition will be and what to expect during your home purchase process.
I always tell clients that buying a home in San Diego is like putting together a thousand-piece puzzle. It's a big undertaking that requires commitment and strategy. You need to start putting the pieces together, and over time it will all start to take shape. If you start with the three tips I outlined above, you will be putting yourself in the best position to complete the puzzle with the least amount of hassle possible (the goal is to find you the right home, at the right price, and in the right amount of time that works best for you)!
Exclusive Buyer Agentsdo not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.
If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. More about Justin Gramm on Google+. Call Justin at (858) 437-2662 or E-mail.