Slower real estate market? If you’re thinking of holding off until things smoothen (?) out, well alright. If you are considering making a move now, congratulations.
There are steps you should take to lessen the chance you’re overpaying, or, at least, to lessen the chance you’re going to lose your life savings.
1. Stay informed. This means, read my blog.
2. Jump on a good deal. This means, know enough about the market, so that if the right deal comes along, you’re ready to go. For example, if a developer is offering their unsold units at 25% off current prices, that might be a good deal.
3. But…don’t move too fast. If there’s a good deal today, there might be a better one, tomorrow. Unless your needs are immediate, give yourself a couple of months leeway. There’s still uncertainty out there.
4. Get tough. Offering 15% less than asking, is a great place to start.
5. Go off the beaten path. I have no idea what they mean by this – buy a log cabin?
How to Get More for the Money In a Cooling Housing Market – By Lauren Baier Kim, The Real Estate Journal