Before you even begin searching for your new home you need to keep in mind that you are not only looking for a home but, more importantly, you need to be searching for a motivated seller.
At the moment we are in a seller's market and have been for some time. Some areas of the country are cooling down but overall the real estate market is still hot.
Recently sellers have been getting their asking price within a fairly short time on the market. You, no doubt, discovered this when you purchased, or tried to purchase, your last home the old fashioned way.
Call a real estate agent and most of them will tell you that there just aren't any real bargains out there anymore. And no one is going to just let you walk in and take over their home. Oh yeh?
And this is true with the majority of properties listed with an agent.
But not all homes are listed. And the number of available homes for you to negotiate a creative deal on is going to grow. There are many ways to locate your new home. Some ways are easier to do but produce slower results. Some methods take more effort but result in a quicker pay off. Believe me, whatever method you use, if you keep at it, you will be successful!
How can I say that after just saying that most sellers get what they ask? Well, that's one of the keys. Most sellers do get what they ask, but not all do. And some get what they ask, but what they ask is way below the true value of the property.
In every market, in every time, you will find some owners who are willing to negotiate with you and you can pretty much get what you look for.
Why? What makes a motivated seller? Who do you need to look for? Why do I think the number of motivated sellers is going to grow? These are some of the questions we'll try to answer as we go along.
Motivated sellers come in many forms.
They may have gone through a recent divorce.
There may have been a death and the estate needs to be settled.
Maybe they just bought another home and two payments are killing them!
An adjustable rate mortgage can sometimes adjust an owner right out of their home and into foreclosure.
A home may be a reminder of a traumatic experience.
Retirement and failing health both change ideas of home ownership.
For every reason that you want to own a home someone else has just as strong a desire not to own one - at least not the home they currently own. They don't want to sell their home, they NEED to sell it. Their NEED creates the motivation you are looking for.
Your job over the next few weeks is to find just one of those motivated sellers.
In the next installment, we'll explore a couple of proven ways to find a truly motivated seller.
Keep in mind that we become what we believe and think! So, it's really simple. Just keep thinking and believing "I'm a homeowner" and pretty soon, it's true.