Price, financial qualifications and time frame are the key considerations when negotiating  a contract to purchase real estate. There are, however,  other considerations which have helped me negotiate great deals for my clients–sometimes, even when my client’s price offer was less than that of a competing buyer’s offer!  And, yes, these are lessons I learned long ago in kindergarten!

1. Show up to appointments on time, stay as long as you need to fully tour the home, but don’t linger for long conversations which are better suited for your real estate agent’s conference room.  Schedule a second showing if you are truly interested in the home and would like more time to inspect the property.

2. Be  respectful of  the seller’s home. Wipe your feet or remove your shoes in extremely bad weather, shut off lights and secure the doors when leaving, don’t allow children to handle personal belongings or play with children’s toys.

3. Prepare your offer based on comparable sales.  An offer that is far below market value will not only set an uncomfortable tone with the seller, but  may also result in your offer being rejected outright.  A reasonable offer, even if it is below the seller’s expectations, will set the stage for successful negotiations.

4. Consider the condition of the home when you prepare your offer.  You will have a thorough home inspection and, yes, it’s reasonable to ask for concessions for unforeseen repairs, however, don’t use the home inspection to renegotiate the price the for repair issues which were obvious when you first toured the home.

5. Respect deadlines, respond to questions quickly and make decisions as quickly as is prudently possible.

Time and time again, this simple and sound common sense approach has helped me negotiate great deals for my home buyer clients.

Some interesting facts we don’t often read or hear about in the daily news… and some reasons to feel good about our homes!

Current national trends in housing

70 % of Americans continue to view owning a home as part of the American dream¹

62% of consumers feel tht buying a home in the current market is a good investment over the next 10 years²

75%  of homeowners state that their home defines their identity⁵

64% of all buyers are married couples, 18% are single women, 10% are single men and 7 % are unmarried couples³

Buyers searched for an median of 12 weeks and visited 12 homes before they found the one they purchased³

35% of the homes were on the market less than 2 months before they sold⁴

39% of sellers did not reduce the asking price, 26% of sellers reduced it once and 35% reduced the price two or more times³

Homes are selling and the spring market in the Andover area is in high gear! Curious about the state of the market in the Andover area, see what’s selling in your neighborhood!

Sources:

1 Wall Street Journal, October 4, 2011

2 Bank of America: Mortgage Index Study, December 8,2011

3 National Association of Realtors Profile of Home Buyers and Sellers 2011

4  National Association of Realtors

5 Move, Inc

The holidays remind us of why our homes are so important to us.  It would be difficult to list all the  holiday songs, cards and movies which  have been written about this theme.  As we decorate our homes and  prepare favorite family recipes, our thoughts are filled with childhood memories of favorite places and family gatherings.  Those favorite places are our homes and the homes of our parents, grandparents, aunts, uncles and friends and we continue the  tradition by welcoming new friends and families into our own homes.   I’m thankful for the work that I do.  Everyday I’m honored to help people find their own special place to call home.  This time of year especially, I receive cards and photos from clients who are celebrating Christmas in their homes, welcoming new babies, taking new family portraits or enjoying retirement or starting a new journey in a new place.  Our homes are important to us.  I value the trust my clients put in me and sincerely appreciate the opportunity to be of service.  May your homes be filled with health and happiness this holiday season.  I look forward to a new year full of more new beginnings.