The Importance of a Reasonable Purchase Offer

Right now in San Diego we’re experiencing a shortage of homes for sale. When the market is balanced, we have 6 months worth of inventory. As we go into 2017, we have just over 2 months worth of inventory. As a result, buyers are competing for every correctly priced home.

Most San Diego homes are priced at – or even below – the price at which they will sell. So buyers who come in hoping for a large discount are asking for disappointment.

Sellers don’t have to entertain low offers, so if they feel an offer is unreasonable, they won’t counter. They’ll just accept another offer or counter to the buyer who made a reasonable offer. The unreasonable offer will be marked “rejected.”

Next, a low offer could alienate the sellers so much that they won’t counter even if there’s only been one offer.

Remember that for a person who has lived in a home, emotions play a significant role in the decision-making process.

Listing agents always advise sellers to view the sale of their home as a business transaction. But it is difficult for most, especially if they’ve lived in the home for many years.

How can you come up with a reasonable offer on a San Diego home?

Trust your buyers’ agent. He or she has a finger on the pulse of San Diego real estate – and knows when a house is or isn’t priced at market value.

Your home buying decision should be based on finding a house in your financial “comfort zone” that will feel like home. When you find one that says “I’m your new home, you must live here,” don’t play games with the price you offer. If you do, someone else will soon be living in “your” home.

When you’re ready to find your new San Diego home, get in touch.

Our experienced San Diego buyer’s agents will not only speed up the process by narrowing your search to homes that fit your wants and needs, they’ll help you determine an offering price that will help you own the home you choose.

You can reach us by writing td@tomdunlap.com or by calling 619-929-1413.

Before You Leave the House to View San Diego Homes for Sale, Get Prepared

You’ve been pre-approved for a mortgage loan, you’ve chosen an agent, your agent has helped you narrow the search, and now it’s time to get in the car and see those San Diego homes in person.

This is fun and exciting, but can also be confusing and exhausting if you’re not prepared. Happily, being prepared isn’t difficult.

Here’s the short list:

  • Wear comfortable clothing and shoes.
  • Take along property flyers and a clipboard.
  • Focus your time and attention on the search.
  • Be prepared to act if you find the home you want.

The clothing: Yes, you do like to look nice, but go for comfort as well. Getting in and out of the car and walking around can make you tired and cranky if your clothes or shoes are pinching.

The flyers and clipboard:
If you see more than 2 San Diego homes in a day, it’s easy to get their various features and benefits confused. So take along the flyers and make your own notes as you view the homes. The clipboard will make it easier to keep things together and give you a writing surface.

Plan to focus: When you’re making a major life decision, it’s best to give it your full attention. So set aside enough uninterrupted time to really see the homes you’re viewing.

This is not the time to be distracted by cell phones, nor to need to rush in order to make it to an appointment. And if you have children, carefully consider whether or not they should accompany you as you view homes.

Some children will enjoy the San Diego home search and be helpful as you make your determinations – and others won’t. Only you know how your own children will react.

If they’re going to love the adventure and help you focus on the benefits and features of each home, by all means bring them along.

If they’re going to be tired, cranky, and anxious to go home, don’t make them come along. You won’t be able to focus on the homes if you’re focused on the kids.

Be prepared to act: The San Diego housing market is low on inventory and we’re seeing the most desirable homes moving quickly from “for sale” to “sold.” So when you find the home you know you want, don’t hesitate. Take the time to make the offer before you return home.

Are you ready?

Our buyers’ agents are ready. So get in touch. You can reach us at 619-929-1413 or by writing td@tomdunlap.com.

Searching for a San Diego Home

When you begin the search for your San Diego home you’ll see more homes for sale than you could possibly view, even though the inventory is low. Your first task, then, is to narrow the search.

First, settle on a price range.

When you meet with a lender to become pre-approved for a home loan, you’ll learn the maximum you can spend. But do listen to your own instincts as well. You may not want to “spend all you can” on your monthly mortgage payment.

Choose the monthly payment that you know will fit comfortably into your budget, then ask your lender to work backwards and tell you your maximum loan amount.

Next, consider where you want to live.

Which San Diego neighborhood will be most convenient to work, school, family and/or recreation – and which will enhance your own lifestyle? Come, explore the differences between the neighborhoods and what each has to offer in terms of lifestyle and convenience.

Of course these aren’t all the San Diego neighborhoods you have to choose from. Describe your perfect neighborhood to your buyer’s agent and he or she will help you focus on areas where you’ll be happy.

Start the search in those neighborhoods.

Now – what you want vs. what you need.

Start with what you absolutely must have. This generally includes the number of bedrooms and baths, but you may have other requirements. You might need a master bedroom and the laundry room on ground level. You may have a grand piano or other large furniture that requires an over-sized room. Maybe a home office is a feature you can’t do without.

Whatever it is – whether it affects the interior or exterior of the home – make a list of these important features.

This will help your buyer’s agent narrow the search to homes that meet the basic requirements.

Now comes the fun part – making a list of features you’d like to have.

What would please you and make a house seem extra-special?

  • Walk-in closets?
  • Bay windows?
  • Cathedral ceilings?
  • A huge pantry?
  • A 4-car garage?

Share that list with your buyer’s agent as well. It will help focus your search on those houses you’re most apt to love.

Be prepared for your list to change as you view homes. You may see other features that grab your attention and cause you to alter your goals. Sometimes buyers even change their minds about the “must have” items if a house without one of them speaks to their emotions.

And that’s OK. Your list is not carved in stone. It’s merely a good starting point that will save you time in your search for the perfect San Diego home.

Let the San Diego Pro Team help you find the perfect home…Call 619-929-1413 or write td@tomdunlap.com.

Why Do I Need My Own Agent?

What are the advantages to having your own agent over working with the seller’s agent as you search for your San Diego home?


 

Finding your new San Diego home:

  • Your agent will search the entire marketplace for homes that fit your wants and needs. Because your agent will have seen many of the homes in person and will have access to detailed Multiple Listing information, he or she will be able to narrow the search, saving you time.
  • Without your own agent, you’ll be following ads for homes that may or may not suit you. Then you’ll be shown the homes by seller’s agents who will naturally attempt to keep you focused on their own listings. Given the fact that major real estate portals are now allowing postings from non-agents, you may also be following ads for homes that have already been sold.
  • Your agent will schedule the showings, setting appointments that will allow you to see 2 or more homes on the same day.
  • Without an agent working on your behalf, you’ll be setting individual appointments that may or may not coordinate to let you see more than one home on a given day.
  • If “your home” is not among those currently on the market, your agent will keep you informed of all new listings that meet your requirements. You won’t miss the home you want because you didn’t happen to catch the ad in time.

Confidentiality

  • Your agent will be working for you – keeping your personal information confidential and not revealing anything that would weaken your negotiating position.
  • The listing agent works for the seller, and is legally bound to share anything you say with the seller.

Presenting an offer…

  • Your agent will help you determine the fair market value of any home you’re interested in. He or she will then assist you in presenting a fair and reasonable offer.
  • The listing agent will always suggest a full price (or higher) offer.

Negotiating

  • Your agent will negotiate on your behalf – helping you obtain the best price and terms for your new San Diego home.
  • The listing agent will convey your offer to the seller, but will negotiate with you on behalf of the seller.

Ongoing support…

Once you’ve gotten an offer accepted, your agent will assist you with setting up inspections, and will once again negotiate on your behalf if inspection results make it necessary.

To sum it up, when you have your own agent you have an experienced real estate professional on your team – working for you and you alone from the first showing through the closing.

When you’re ready to begin your search for a home in San Diego or anywhere in San Diego County, get in touch. You can count on the San Diego Pro Team to first listen carefully to your wants and needs – and then to help you save time and money.

You can call 619-929-1413 or write td@tomdunlap.com.