How To Find Real Estate Bargains In A Changing Market
The Tallahassee housing market is changing, so there are some critical steps you must take to ensure that you are looking at real estate bargains and not over-priced turkeys.
With thousands of homes for sale in Tallahassee, and most available for viewing online, it is very easy for a buyer to get a feel for the market.
But don't let your online experience fool you, it is easy to make a purchasing mistake even in a market loaded with real estate bargains.
Real Estate Bargains Defined
Before you go out looking at homes, I think it is imperative that you define exactly what real estate bargains are. For example, if a home is listed at $250,000 and you negotiate a contract at $210,000, is that a great deal?
Or perhaps you know somebody at a bank and you pick up a foreclosure before it hits the market, surely that must be a real estate bargain, right?
Too often, I see homebuyers have these amateurish views on finding real estate bargains. They think they have to find a seller in trouble or make a low-ball offer on a home to get a great deal. But that is simply not how it is done.
A real estate bargain, in my opinion, is when you purchase a property at a price or terms below which it would have sold to somebody else.
Going back to our first example, if a home is listed at $250,000, but it likely won't sell above $200,000 (yes, there are owners and agents who list properties this far over-priced), it is not a great deal at $210,000. And buying a foreclosure very well could be a great bargain, but it also could be a bad deal too.
The key to ensuring that you get a great deal in real estate starts with having a process to establish real estate values, and then using proper negotiation tactics to secure the property (if possible), at a discount to its real market value.
How To Find Real Estate Bargains
You cannot find a bargain in any market without having a great understanding of market value. We determine market value for a home by looking first at supply and demand for similar homes, and then we apply adjustments for the unique features of a home. Being able to do this accurately and quickly puts a buyer at a great advantage in the Tallahassee real estate market.
We conduct daily training at Joe Manausa Real Estate, and the core of our training is market conditions (because they change). I think this is critical, because people who hire us to sell a home or buy a home do so in order to have an advantage in the real estate market.
To find real estate bargains, you have to work with somebody who is highly trained in market valuations, and they also have to be able to show you how to negotiate for each specific situation. For example, you would not use the same negotiation tactics on an underpriced home as you would for a home that is priced above the market.
If you would like to find the best real estate bargains for your needs, just drop me a note and we can schedule a time to review your needs and wants and give you the best home buying guidance in the Tallahassee real estate market.
*Joe Manausa Real Estate is a brokerage company headquartered in Tallahassee, Florida. Its unique business model provides specialists to both home sellers and home buyers, and the results speak for themselves. JMRE has significantly more 5-star reviews on google than any other local competitor. Joe Manausa Real Estate is a leader in internet marketing and utilizes search engine optimization, email marketing, social media and data analytics to get their clients’ home sold faster and for more money than any other Tallahassee brokerage firm. For more information, visit www.manausa.com or call us at (850) 366-8917.