The market is moving in 2017. This said, I am starting to get the calls about buying homes. Everyone wants to know the secret for the best deal. Here’s the secret…there is no secret. There are some basic things every to-be home buyer can do, regardless if you are in Walnut Creek or the East Bay area, to secure the best deal possible.
First, don’t move large amounts of cash around 6 months prior to buying a home. Lenders always want a complete paper trail so that they can get you the best loan possible. If you’re moving a lot of cash or taking out too much credit before you buy a home, lenders will not approve the top dollar possible for you.
Second, understand there will never be a perfect time to buy a home. The best time to buy is when you can afford it. Trying to predict market cycles and hold out will cost you a good deal in the long run. Don’t buy best on market trends, buy based on what you can afford and when you can afford it.
Finally, get odd if you find yourself in a bidding war. You want your offer to be taken seriously and to stand out. Sellers respect a bid that is an oddball number because a round number sounds like every other bid out there. Make your bid interesting enough that the seller will stop to look at it.
Again, there is no secret to buying a house. There are trends, there are cycles, but there is no secret. The best thing you can do is know what you can afford, when you can afford it, avoid taking out a lot of credit before buying a home, and to make your bid interesting enough that the seller looks at it with careful review.