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How to Revamp Your Homebuying Strategy

by Tyler Grossman 01/06/2019

Although you might have entered the housing market with a strategy to help you streamline your search for your dream home, it is important to remember that even the best-laid plan may need to be changed. And if you fail to discover your ideal residence after a comprehensive search, now may be a great time to revise your homebuying strategy.

Let's take a look at three tips to help you revamp your homebuying plan.

1. Consider Your Home Must-Haves and Wants

Creating a list of home must-haves and wants may be done at the start of a house search. Over time, however, this list may evolve. And if you update your list, you may be better equipped than ever before to reenter the real estate market with a fresh perspective.

Think about where you want to live in the foreseeable future too. Then, you can narrow your home search to specific cities and towns and accelerate the homebuying journey.

2. Review Your Budget

If you recently paid off your student loans or eliminated your credit cards, you may want to reassess your homebuying budget. That way, you can hone your house search and explore residences that fall within your up-to-date price range.

Of course, if you have yet to get pre-approved for a mortgage, you can still do so. Meet with banks and credit unions to learn about all of the mortgage options that are available. This will enable you to gain the insights you need to select a mortgage that matches your finances.

3. Learn About the Housing Market

The housing market may favor buyers or sellers. And if you have been searching for your dream home for several weeks or months, the market may have changed.

It does not take long for a buyer's market to become a seller's market, or vice-versa. As you consider your homebuying options, you should study the local real estate sector closely to determine whether the current housing market favors buyers or sellers.

Evaluating the prices of recently sold houses in a particular city or town usually is a good idea. This housing market data will enable you to find out whether sellers are receiving offers at or near their initial home asking prices.

You also should find out how long current residences in a particular city or town have been listed. If houses linger on the real estate market for an extended period of time, you may be operating in a market that favors buyers. Or, if homes are selling quickly, you may be operating in a seller's market.

Lastly, hiring a real estate agent often is helpful, particularly for homebuyers who are struggling to identify the perfect residence. A real estate agent can offer lots of tips as you conduct your search for your dream residence. Plus, if you need to revamp your homebuying strategy, a real estate agent will make it easy for you to do just that.

About the Author

Author
Tyler Grossman

It's been an exciting decade working in the trenches of Marin Real estate!  Experiencing all the highs and lows of the always changing Marin market.  In fact, it can be different from street to street, week to week, and certainly for each and every home.  As a Marin native, I know the ins and outs of all the various neighborhoods, including schools, parks/trails, restaurants/shopping, transportation, and all the various aspects I need to know for our clients.  I feel so blessed to be able to raise my 2 children (Reed -7, Paige - 5) here with my wife Beth.  Although expensive, we know every day why it's worth it!

I partner with my mom Marti, who has over 30 years of experience in the business and has been very successful and highly respected.  Together we pool our experience, knowledge base, technical savvy, networking groups, and provide our clients with a true value of 2 for the price of 1.  Marti has excellent working and friendly relationships with all the older guard or agents, as i do with the more contemporary ones.  We are always leveraging our relationships to put our clients in the best positions.

Team Grossman has a long track record of sales success that we are happy to share with you.  We are as comfortable and committed to selling $250,000 co-op's to $2M estates.  We are 100% committed to our clients throughout the real estate relationship and beyond. We earn the trust and respect of our clients, who recognize that we are always willing to go above and beyond to provide the best service we can possible give, in order to make your real estate buying or selling needs come true. 

I have been in real estate since 2005, including every time of residential sale, including single family homes, condominiums, townhomes, income investment properties, bank owned properties (REOs) short sales, houseboats and land. Over the years, I have earned the trust and respect of my clients, and often made good new friends along the way.  I have been recognized by my company for various Sales Achievement and Client Service Awards throughout my career.

I ask that you meet with us to get to know us and how we run our business, and allow us to earn your business.  Thanks for that opportunity and can't wait to hear from you.

- Tyler