Buying a Home in the Pearland and Greater Houston Area?

Buying a home can be a lengthy process, but it can also be a very exciting and informative one if you know where to find all of your answers. There are many steps within a real estate transactions where mistakes can be made, so I always suggest picking a licensed REALTOR® to represent, educate, and walk you through the process. Just as it is not a smart idea to go to court without a lawyer to represent you, it is not too smart to purchase or sell real estate without a licensed professional in your corner.

Here are a few helpful tips to use when buying:

 Tip #1: Stop listening to the national media about the real estate market. It is true that home sales are down from recent years, but Pearland and the Greater Houston Real Estate market have not been impacted as severely as the rest of the United States and other major real estate markets. Offering $20,000 below market value may work up north or in California, but that kind of offer will typically not cut it in the Pearland and Greater Houston real estate market. Reasons why: 1) Pearland and the Greater Houston real estate market have held steadily low prices over the years. A home that costs $150,000 in the Greater Houston area could probably sell for $500,000 in the Greater Los Angeles real estate market. $20,000 off of $500,000 is not nearly as detrimental to the seller as $20,000 from $150,000.

Tip # 2: Be patient. Buying a home is typically the single most important purchase of a person's life. I have a saying: "An educated consumer equates to a satisfied consumer." Spending time looking at multiple homes and learning about the home buying process increases the chances of making the right decision and in the end you will be happier with your purchase. When looking at homes, look with a critical eye as well as an emotional eye. As you look at homes, compare the following: the year the home was built, list price, price per square foot, square footage, lot size, number of bathrooms, number of garage spaces, condition and upgrades of the home. As you look at more homes and compare, you will begin to recognize a good deal when you see one.

 Tip # 3: Don't write a contract unless you are willing to pay full price. Don't get me wrong, you always want to try to get the best deal possible and it is best to start lower to make sure you do not leave any money on the table within the negotiation. But.... based on my experience in real estate, the seller is generally willing to give about $5,000 from their list price. $5,000 could be in sales price or in seller's contributions to closing costs. So, go ahead and write your offer for less than full price, but do not get your feelings hurt when the seller is only willing to give about $5,000 from their list price. They may not be trying to drive a hard bargain, they may just not have enough equity to give anymore.

Tip # 4: Hesitation may leave you homeless. After seeing an ample amount of homes and getting a good grasp of the market, you should be able to spot "The HOUSE". The home that you walk in to and finally feel: "This is the one." Realize that you are not the only buyer out there, especially in Pearland and the Greater Houston real estate market. If you are looking for a certain size home for a great price, chances are so are other buyers in that same market. If you have seen 30 homes and "The HOUSE" stands out, you may want to jump on it before one of those other buyers gets that same feeling, but got it the day before. If they saw it yesterday, they are writing an offer today. If you saw it today and wait until tomorrow, you may be too late. When you feel it go for it. Within the contract your REALTOR® should write in an option period(the option period allows the buyer a set amount of time to inspect the property and grants the buyer the unrestricted right to terminate the contract and not lose earnest money).

I hope you have found these tips helpful. Take them and use them wisely. They could save you a lot of money or save you from utter disappointment.

This web site was created to help answer all of the questions that arise in the sell or purchase of real estate. As a company, Capital Trust Realty and AskOzzie.com is working hard to keep this web site updated with current information directly pertaining to the Pearland and Greater Houston Real Estate markets. Visit as many times as you want to and feel free to contact us with questions, comments, or any other information that would help us to better educate the general public.

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