If you need assistance, please call 704-995-3330

3 Buying Tips for 2014

Tuesday, March 25, 2014   /   by William Culp

3 Buying Tips for 2014

As the market makes steady moves toward a solid recovery, more and more hopeful homeowners are entering the playing field. If you're looking to buy a new home this year, be it a downsize, vacation home, or your very first house purchase, follow these three tips.


Check into reality.

Instead of daydreaming your ideal home, make a list of what things are absolutely essential: a specific number of bedrooms, close proximity to work or your child's school, a decent-sized yard. Once you know what you need, but before you begin your actual house hunt, start looking at what sold in the last six months that fits your bill. See what the selling prices are looking like, and figure out if you can afford a similar price tag. If you can't, it might mean waiting a bit, or reassessing your needs.


Get pre-approved, not pre-qualified.

Many people get confused between “pre-approved” and “pre-qualified” when it comes to obtaining a loan. Getting pre-qualified means a bank has qualified you for a mortgage based on information you provided, but they have not actually checked up on your credentials. A letter of pre-approval means the bank has thoroughly checked out your financial status, and is ready to give you a loan. This holds more weight in terms of buying quickly, and can act as leverage should it come to beating out other buyers.


Don't lowball.

When it was a buyer's market, lowballing was often a good way to start negotiating price. However, now that we're seeing inventory shortages across the country and more and more buyers entering the fold, lowballing most likely means you won't land a deal. Instead, present a fair offer that's in your price range but still leaves some negotiation room on both ends.


As a Member of the Top 5 in Real Estate Network®, our team has a wealth of real estate and home ownership information that may be of help to you. Feel free to contact us at any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Giving Tree Realty
Bruce & Brandy Bleiman
1244 East Blvd
Charlotte, NC 28203

Based on information submitted to the MLS GRID as of 4/15/2024 4:55 AM CST. All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.
The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of Fayetteville Association of REALTORS®. Those properties marked with the IDX icon are provided courtesy of the Fayetteville Association of REALTORS®, Inc., Internet Data Exchange (IDX). Information Deemed Reliable But Not Guaranteed and Should be Independently Verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2014 Fayetteville Association of REALTORS®. All Rights Reserved. April 15, 2024
Information Deemed Reliable But Not Guaranteed.
This site powered by CINC: www.cincpro.com