What I offer to Buyers
As an experienced professional catering to first-time buyers, repeat buyers and investors, I provide comprehensive assistance in navigating dynamic market conditions. In our initial meeting, we analyze your specific needs, motivations and expectations to determine the optimal investment size. Through meticulous calculations, we assess monthly mortgage payments, closing costs and ongoing property carrying costs.
Once we establish a suitable price range, we carefully evaluate available options within defined geographical boundaries. In a competitive Seller's market, where demand exceeds supply, I remain vigilant in monitoring daily market updates to promptly identify ideal properties as they become available.
Once a prospective home is identified, I leverage my negotiation skills and conduct a detailed Comparative Market Analysis to tailor a strategic negotiation approach. Recognizing the unique nature of each deal, I utilize my market expertise to secure favorable terms, ensuring you make a wise and inofrmed purchase decision.
What are market conditions?
The real estate market is always changing. It helps to understand how market conditions can affect your position as a buyer. Here’s a brief description of different real estate markets:
Buyer's Market
Situations: The number of Sellers exceeds the number of Buyers, creating an OverSupply (supply is greater than demand).
Effects: Prices tend to drop and homes stay on the market longer as a result of more competitions among sellers and their homes.
Advantage: As a buyer, you will be in the driver's seat when making an offer to purchase a home. Buyers have more negotiating power in terms of the purchase price in a Buyer’s Market.
Seller's Market
Situation: The number of Buyers exceeds the number of Sellers (demand is greater than supply).
Effects: In this market prices are increasing and homes sell quickly.
Challenge: As a Buyer you need to be on top of the inventory and what becomes available for sale as soon as they hit the market as homes sell quickly. You may have to compete with other interested buyers in multiple offer situations to purchase a house that you like.
Balanced Market
Situation: The number of Sellers (homes on the market) is equal to the number of Buyers (supply equals demand).
Effects: In this market, prices are stable and homes sell within a reasonable period of time.
Atmosphere: It is a calm atmosphere with buyers having a satisfactory number of homes to choose from.
Closing Costs
Your major closing costs when buying a home include the following:
- Legal fees and disbursements (usually ranges between $2,000 to $4,000)
- Adjustments
- Fire Insurance
- Moving Costs
