Home Buying Advice to Ignore: Part One

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    There is a large amount of misinformation that buyers in the San Diego market actually believe. Today, I want to address these rumors in the first video of a two-part series.

    1. Hold off, because home prices are coming down. No real estate agent can accurately predict the future of home prices, but interest rates and inventory in San Diego are extremely low right now, so home prices are not coming down in the foreseeable future. For that reason, now is truly the best time to buy. The only segment of the market seeing a softening is in the multi-million dollar market.
    2. Find a home, and then talk to a lender. Too often, buyers shop for homes for up to eight months without having a loan prepared. It’s extremely frustrating to find a home you love only to find out that you can’t afford it after seeking a mortgage approval too late in the process. Even worse – sometimes buyers shop for a home only to find out that they don’t qualify for a loan at all.
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    4. You don’t need to use a real estate agent. With all the liability involved in a real estate transaction, you can’t afford not to have a trusted real estate professional representing you and protecting your best interests. With a Realtor, you will also have access to inventory that consumers don’t have access to.
    5. Use the listing agent to represent you. The listing agent’s job is to represent the seller’s best interest, not yours. You need someone who is responsible for your own best interests.

    In the second part of our series, we’ll discuss four more pieces of advice that you should avoid when buying a home. Until then, if you have any questions I can answer about buying or selling a home in the San Diego market, please feel free to reach out to me by phone or email as we’re always standing by to help.

     

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