Let Me Think About It Is No Longer An Option

 

 

Buyers need to be aware that the local Cleveland real estate market has dramatically changed over the last 3-6 months.

There is limited inventory and a large pool of buyers just waiting to pounce on the right home. Therefore, buyers need to decisive and act quickly or lose out.

DO YOUR HOMEWORK UP FRONT

We are by no means suggesting that buyers should make hasty decisions. Buying a home is a huge commitment and shouldn’t be taken lightly. We are simply encouraging you to be ready to write an offer once you do find that one special home.

The most important thing you can do is get pre-approved.  I constantly bring this up with buyers  both local and those relocating to the area.  The bottom line is that if you aren’t pre-approved, you risk losing out on a home.

Also, try to identify what you want in your next home. For some people, this is easy. They already have very specific criteria and may even have their eye on certain neighborhoods. However, for other buyers, they simply don’t know what they want.

This is more common with out of town buyers who are just trying to get a feel for the area. I certainly don’t envy them. In addition to the pressure of having to start of new job in a city they don’t know, they also have the unenviable task of buying a home. Making a list of what you want is very important.

YOUR MUST HAVES AND WANTS

Try this exercise. Take a piece of paper and write down the features that your next home absolutely positively must have. Does it have to have a certain number of bedrooms and baths? Does it have to be in a neighborhood vs. on a main road? Does it have to be located within a certain distance of work? Make sure all decision makers are in on the conversation so that everyone is on the same page.

Now write down the “wants”, things that your home doesn’t have to have, but it would be nice if it did. While you may not need a 3 car garage, wanting one is ok.

Please keep in mind that regardless of price point, you are not going to get everything you want. You can still get a great home that will make you happy, you just need to be realistic and a little flexible in today’s market.

IF IT FEELS RIGHT, BUY IT

Once you start looking at homes, you will be able to quickly figure out what you don’t like. This is a big part of the process, eliminating suburbs and areas that simply won’t be a good fit for you. Then, hone in on the areas you really like.

One thing you want to avoid is feeling pressure to buy a home simply because you need to move in quickly. The last thing we want to see is someone buying the wrong house. If it doesn’t feel right or you have to try to convince yourself to buy a particular home, then it probably isn’t “the one”.

The spring market is just around the corner and new homes are coming on the market every day. So be patient but smart. Get your financing in order, learn the market and when you see something you really like, buy it before someone else does.

The days of thinking things over for a few days are behind us and those who hesitate may lose out on the home of their dreams.

 

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize is luxury homes, relocation, and first-time buyers.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Let Me Think About It Is No Longer An Option is the property of The Schuman Team and may not be duplicated or used without their written consent.©March, 2013

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