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Delta Media Group Blog

Friday, May 18, 2012

A better way to research homes for sale

How do you know what to buy and when to buy it?

Is it based on your wants? Do you even know what you want?

For some items you probably do, but for others you might need some assistance and information.

What are you interested in? What suggestions do your friends and family have? Is it a smart decision to purchase the product now?

Purchasing real estate can be much different, but also very similar to everyday purchases. You wouldn’t buy a TV without doing your homework. Why would you buy a home without doing the same?

But there are obvious problems with that analogy. Real estate is difficult to compare side-by-side. You can’t hold up two homes next to one another and see which is better for you. One might feel more “right.” The other might seem more practical. And what happens when the best home for your and your family isn’t in the best neighborhood, or might not be the best buy?

What if you feel like you’re paying too much to purchase the property you want, when you know you can find a better value elsewhere for a home that will provide the same benefits to your family?

By the nature of real estate, some homes are overpriced, some are under-priced and some are priced right. But it takes homework to find what’s what, and homework requires the means to find information.

Going through homes is often a must. How else would you know if it’s right for you?

Driving through the neighborhood is also an important step for homebuyers. What do other homes look like? How much are they going for? Are many for sale? Are residents happy? What would the neighbors be like? Is it in a good part of town?

But much of your home buying homework is more difficult to research. The economy is fragile and real estate prices can be bipolar, at best. You want to make sure the home you invest in also brings a good value. You’re more sensitive to home prices now because not every home goes up an average percentage each year in the current economy.

So you also might approach real estate like the stock market. You used to ask for a Comparative Market Analysis, but you’ve learned those are based on recently sold data, and that can fluctuate drastically in a short period of time, particularly when foreclosures and short sales are taken into account.

So you search for other ways to follow pricing, purchase and for-sale trends. You want to know what homes in the area are on the market, how long they’ve been on the market and what they’re priced at. You want to see if the prices of those homes for sale are trending up or down. You want to view this data in graphs and search it by radius.

Your homework has taught you this information can be difficult to find. You’ve searched and searched, but the specifics aren’t regularly provided for you, and things might change in a week or two. Will you have to start the homework over again?

Then you remember that conversation you had at the open house, and the business card that agent gave you. She mentioned something about a “market watch,” if you remember correctly. She said she’d send you one, but you were hesitant at the time.

You grab the card from your wallet and check out the website. You realize you can easily sign up for the market watch online, which will email you all the information you’re looking for once a week.

Things just got easier, and your email is now the research center for your next major investment.

Contact Delta Media Group for more information on the real estate Market Watch and how it might benefit your customers.
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