5 Austin Home Buyer Tips

September 18, 2007

confusion-thumb.gifHere are today’s 5 Austin home buyer tips:

  • If your agent suggests a property to you and you want to make an offer - ask for a C.M.A

A Comparative Market Analysis on any neighborhood is a great idea.  It gives you the opportunity to take a hard look at the neighborhood facts.  

  • Drive your neighborhood night & day

Why night & day?  Because during the daytime folks are often off to work, it gives you a chance to look closely from the street at the lawns and driveways.  What are their conditions?  Driving during the evening around or just after dinner time is a great way to see how active it is.  Are you okay with what you see? Are cars in the driveway or in the garage? Whats worse than a driveway you ask? The street perhaps? Where are their trash cans stored? Perhaps it might even be clever of a savvy buyer to drive it on Saturday night as well?

  •  Always buy with a home sellers mentality

Imagine yourself selling the home in 5-7 years, and ask yourself, where is this neighborhood heading.  Will I get my money back? If the neighborhood looks run down now, chances are it may get worse before it gets better!

  • Is the home you’re thinking about buying older (say 10-40 years) with a single owner?

If it is, chances are, there’s money to negotiate.  If a family 25 years ago bought the home for $80k one must ask themselves how much of the sales price is market perception if they’re now selling at $225k.  Add the total days on market to this equation and you may not want to participate in the sellers windfall.  The county tax record and a C.M.A will help you plot your offer with your agent.

  • Don’t be afraid to ask questions

No one likes a know-it-all so use the knowledge you have as a springboard to ask questions of your agent about options.  Very often folks walk into our office with a clear cut idea of what they want only to realize that they had even more options open to them.  Knowing everything may leave your agent afraid to make suggestions. Our advice is to simply collaborate your information with your agents into a well rounded decision.  (yes we know, no one likes a know-it-all realtor either!)

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Hen Pecked by Benn, Single Pointe CEO | Filed Under Austin Real Estate Blog, Buying, First Time Buyers, Market Conditions 

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