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Health & Fitness

St. Louis Real Estate Tip of the Week: TIMING IS EVERYTHING, or is it?

Timing is such a critical factor for home buying. Today, there are key critical factors to help buyers seal the deal. Check out my tip of the week!

When it comes to buying a home today, timing is everything.  Or is it really? Here are some 2013 buyers tips that should help you secure the home you want!

ONLINE SEARCHES ARE A MUST. With prime listings being snapped up, the faster you get to a home the better. Web sites including www.kw.com, eliminates some of the work by automating your search. Your agent will gladly set you up on a tailored search!

FORGET ABOUT BARGAINS. The conventional wisdom over the last few years has been to come in at five (5) percent below the asking price when making an initial offer. This won’t work in today’s market. If the home is priced right, you will lose the house! If you really want the house, give the full price with no contingencies and leave that offer on the table for 24 hours. Let the seller know that you’re really serious, that you really want the property, but you’re not going to let them use you as bait to get a higher offer. Bottom line: give the seller your very best offer.

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“Home prices continue to be a bright spot in the housing industry, with the national median existing-home price reaching $214,200 in June, up 13.5% from June 2012.”  - Housing Wire National Association of Realtors

DON’T WAIT…FOR THE OPEN HOUSE. Your agent should be on the ball and recommend homes to you to look at before the open house. Without an agent, you could easily miss the opportunity to a great house. Schedule a showing during the week before the first open house and use the open house for your second visit. Then you should be ready to make your offer.

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DON’T DELAY. Being the first to make a solid offer can give you an edge. Forget about waiting for a better deal. It’s no longer a buyer’s market.

BE OFFER READY. A well-prepared offer can be a leg up for buyers. Low balling or asking for add-ons etc. could cost you the house. Today, if you want the house and the house again is very attractive to others, make the very best offer and it will get you the house you want.

INCREASE DOWN PAYMENT. Sometimes this can make your offer stronger if possible. This tells the seller that the deal is more likely to go through. So if you are competing this could give you the edge to get your offer accepted.

CONSIDER YOUR CONTINGENCIES. Some contingencies such as closing dates can impact your offer. If you want to move in two months and they seller wants to move as quickly as possible, you will not look as attractive should your offer compete with another one. However, any contingences can be negotiated.

SIGN THE CONTRACT IMMEDIATELY. A year ago, buyers were taking longer to negotiate.  Today’s sellers are less patient, have more offers and may choose another deal if the buyer that is taking too long. Anything you do to risk the deal, risks you getting the house of your dreams!

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Beverly Taki is a Missouri-licensed real estate broker who has successfully represented clients for 25 years.  She is a broker salesperson at Keller Williams Realty St Louis. 10936 Manchester Road, St. Louis, MO   63122. Beverly has earned a certificate in dispute resolution from Pepperdine University, specializing in negotiation and mediation. Taki can be reached at beverlytaki@kw.com or 314-677-6366.  Her website is beverlytakistlouis.com and her blog is realestatestlou.com.





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