RE/MAX of Santa Clarita

7 Tips and Secrets To Finding A Great Santa Clarita Home

Tip/Secret #1 - 1st Time Buyers

Don't put off buying because you can't currently afford what you want!  

This is probably the biggest, and most costly mistake 1st time buyers make.  They can't get that perfect home, so they wait.

Your 1st home is the foundation and stepping stone to your future homes, prosperity, family, security, & wealth.  Don't put it off.

Consider...

  • If you don't like what you can afford now, you really won't like what you can afford as prices and/or interest rates go up.
  • Prices rarely come down. The few times they have, they went right back up. Historically prices just keep going up.  Ask you parents or grandparents what their home cost.
  • You can't save fast enough to offset price and interest rate increases.  How long will it take you to save another $40,000 or enough more to make any difference?
  • Once you have the minimum down payment to qualify for financing, do it!. 
  • You don't need 10% or 20% down payment.
  • You can buy with as little as 3.5% down using FHA financing.  Veterans can buy with zero money down VA financing.
  • PMI and MMI mortgage insurance is a great option as it allows you to buy with less than 20% down.  It can also be removed once there is enough equity. Don't be turned off over PMI.
  • Rent keeps going up, and is rarely tax deductible.  You can probably own a good property and have nearly the same payment as your current rent.

SOLUTION: Do what it takes to 'Own Your Own Place' ASAP!  

  • Figure out the payment that you can afford and qualify for financing. Take into consideration everything.  HOA Dues, Taxes, Insurance, Special Taxes, etc.  The right  lender can help you figure this out.
  • Ask your lender, "What's the highest total Payment that you can qualify". (Payment, not your price range).  Most lenders want to tell you a price range, but that will vary by neighborhood, and they don't know the neighborhoods.  So focus on your max payment.
  • It's not just the price. Each neighborhood is different. The same price property can have vastly different payments depending on the neighborhood. Your agent will know the neighborhoods and be able to tell you which areas get you the payment you need.
  • Find the neighborhoods where you feel safe & comfortable!!!
  • Find the properties that are in your affordability range in those neighborhoods.
  • BUY ONE!  It won't have everything, but it will be your's, and that's really everything!
  • Quit paying rent!  Let somebody else finance the landlords future.

Priority 1 Buyer Option

Tip/Secret #2

Avoid Working with or contacting the Seller's Agent!

Myth: You get a better deal or other advantage by working directly with the Listing Agent. (the Agent on the for sale sign)
Reality: The Listing agent is the Seller's Agent.  Their job is to get their seller the better deal, not you!  Would you go to the other teams coach to help you win the game? Think about it....

Many States don't even allow the same Agent to represent both the buyer and seller on the same transaction. California for some reason still does. There are many good reasons to have your own agent!

SOLUTION: Get your own agent who will look out for your interests. When you see a property that interests you, don't call the number on the sign.  Call your agent so they can get the true details. Your agent may be able to get inside information that could give you an advantage, negotiate a better price or terms, and point out things you might not know about the home or neighborhood.  And if there is a better home possibility out there, your agent will tell you.

Priority 1 Buyer Option

Tip/Secret #3

Don't try to do it all yourself!

DIY is rewarding for so many things.  Researching on your own is wise, plus the internet is a great resource.
However some things you probably shouldn't attempt without help.  Would you ... 

  • Cut your own hair?
  • Fix your own teeth?
  • Represent yourself in court?
  • Negotiate on your own with the IRS?
  • Buy a home without an your own Agent?

There will be dozens of decisions, many affecting you for the long term, involving hundreds of thousands of dollars.  And the most important thing of all, the home you choose will effect you and your families future!  It just makes sense to have someone looking out for you who really knows the neighborhood.

Your Agent is an adviser who doesn't make decisions for you, but helps you make the best possible choices based on what is important to you.  

SOLUTION: Bottom line, get yourself a good, local Agent! 

Priority 1 Buyer Option

Tip/Secret #4

How to Choose the right Agent! 

Make sure the Agent you are talking isn't a...

  • Part Time Agent?
  • Inexperienced Agent?
  • Agent from out of the area or doesn't specialize primarily in the community you are considering?
  • Solo Agent, not part of a team?

Unfortunately the vast majority of Real Estate Agents complete 3 or less real estate transactions per year. You wouldn't let someone cut your hair, work on your car, or perform most other services for you with that little experience.  So why choose an inexperienced Agent to handle what could be the most expensive transaction of your life.  Even small mistakes can cost you thousands.

Just as in any other profession, there are Agents who are much better at getting you great results. Since you have the choice, why not choose a good Agent. The Agent you choose will make a huge difference, and likely effect you for years to come. Choose wisely!

Agent Teams vs Solo Agents:  More and more Real Estate Agents have recognized that the best way to get great results for their buyers and sellers is to work as part of a a team. A modern real estate agent team can consist of a Buyer Specialist, Seller Specialist, Transaction Coordinator, Marketing Coordinator, Client Support Specialists.  All working to get you better results.

SOLUTION: 
Consider choosing an Agent who is part of a Team. Read their reviews and make sure they are full time, working primarily in the area you are looking to buy or sell your home.

Priority 1 Buyer Option

Tip/Secret #5

Be Prepared to Act Quickly!

When the right home cones on the market are you ready? Great houses sell quickly, sometimes in just a few days, sometimes hours.

Do you have everything ready to give you an edge over the other buyers or will you just watch as a more prepared buyer gets the house because you weren't.  Your agent can help you get everything ready.

SOLUTION: Ask your agent for recommendations on reliable loan agents who can help you get your financing ready so you don't loose a great home.  Also buyer story/introductory letters can make a big difference when presented to a seller with your offer.

Priority 1 Buyer Option

Tip/Secret #6

Make sure to learn to understand the current home buying process!

Don't assume the process is the same as last time you bought or sold a home. Last year, last decade, things change. Make sure you have the most current guidance so you can make the best choices.

SOLUTION: Sit down with your agent and have them thoroughly explain how the transaction process works now and what has changed since the last time you bought or sold a home. Knowledge is power!

Priority 1 Buyer Option

Tip/Secret #7

Don't give up!

Often it is tempting to just give up if unsuccessful in your 1st few tries. If it's a good time to buy, other buyers also come into the market, competing for the best homes. Don't give up!

If you have the right agent team working for you, you will get that great home. It's just fine if the other buyers get frustrated and quit. Just don't let that be you.

SOLUTION: Hang in there. Ask your agent if there are adjustments that can be made to your criteria that will open up more possibilities.

Priority 1 Buyer Option

Free Bonus Tip

The Seller Pays your Agents Fee:

In most cases, the SELLER PAYS your Agents fee. You get the help and representation you need, and its FREE for buyers.

When you have your own agent representing only you, regardless of which company has the house for sale, the seller normally pays you Agent's fee. That's probably the best deal you will ever see. You get all the benefits, and it's free!

Next Step: 

Schedule a Planning Session with us.  It's also free and will get you off to a great start.

Schedule Now

 

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