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How to Stay Organized during Your House Hunt

How to stay organized during your house hunt

House hunting can be a quite stressful time. It’s also a very exciting time, looking at options for your potential future home. There are quite a lot of moving parts to house hunting, lots of paperwork to keep track of, getting pre-approved, finding properties within your budget, appraisals, etc. Here are some tips for keeping your house hunt as organized as possible.

Keeping properties straight

Touring multiple open houses can get confusing. Properties can melt together and keeping important features of a home straight can start to blur. Before you start your official hunt it can be important to sit down and list out all of the feature you want in a home. It can be easy to visit a house and say this is perfect, and forget that you’re missing out on key features that you really wanted in the first place. Take into consideration what all members of your family want in a home, backyard for the kids or pets, dual vanities in the master bath, whatever it is list it out. Then narrow the list down to a top three to five. When you visit a property, compare it to your list of wants and needs. Make sure your broker knows what your top wants a needs are, so they can be sure to show you properties that align with what you want in a home.

It can also help to make a comparison chart. Listing out what you want, and comparing it with properties you’ve seen can help you stay on track. It can also help you keep track of properties you’ve seen, if you keep a running list or chart, and prevent them from running together.

Touring homes

It can be helpful to walk through a home twice. Enjoy walking through the home the first time, enjoy the feel of the layout. Try not to get swept up in exciting features or other things. Then walk through it a second time, using a slightly harsher lense. Use your list of desired features, and think about if this home really does have what you’re looking for. It’s important to keep these things in mind, and not get swept up in dazzling features. It’s also important to note, that your first impression of the house, on your first walk through, can be the best indicator. It’s definitely important to note if it has what you’re looking for, but if your gut says no when you’re walking through a home it’s important to listen to that. Even if this home has all of the things on your desired list. Asking to take photos of a home that you like is never a bad idea. It may remind you why you liked the home in the first place. Taking a moment to visualize how you would use the space in the home to make it yours can also be helpful.

Stay organized

Keeping track of homes you liked and homes that you didn’t can make your house hunt less stressful. Keep in mind features that are deal breakers, things you definitely want, and things you don’t. Communication with your broker is key as well. Keep them in the loop as to what you like and what you didn’t. If they have all the tools they need from you, they should be able to produce a wonderful list of properties for you to look at.

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August Real Estate Forecast Shows Inventory Increase and Strong Sales

August Real Estate Forecast Shows Inventory Increase and Strong Sales

The real estate market in Central Oregon has changed slightly as we take the turn into the beginning of fall. August 2016 was a strong sales month, which showed that August is still a great month to house hunt and list new properties. In the coming months, we will continue to see an increase in price reductions to stay competitive with the market.

Pricing for the market

August saw a strong finish in sales, with a high number of pending listings that are projected to close in September. August trends indicate that it’s important to price your listing for the market. Pricing ahead of the market could cost you potential buyers or offers. A spring trend is to price a listing competitively rather than on-market, but pricing for the market is more important and more successful in the fall.

Price Reductions

Listings also saw a continued increase in price reductions, from properties that may have been priced too competitively from prior months. Heading into cooler months may hold a drop in prospective buyers, as summer months are known to include increased prospective buyers. Pricing on-market could ensure more looks at your listing, and a great offer or two.

Number of listings increases slightly

The inventory available has continued to increase through August. There were more active listings in August than in July and June. The number of sold properties rose slightly from July, from 250 to 261, but the number was still not able to top June, which came in at 287 sold properties.

Final Analysis

 The final conclusion from the real estate trend report in August is that there are still a number of great listings on the market. Some may be going through price reductions, as sellers try to price appropriately for the fall buyer. The number of available listings continues to increase in August, providing the buyer with plenty of properties to choose from.

To keep track of the current real estate trends happening in Bend, Oregon, and the trends of the fall season, keep in touch with Duke Warner Realty. We compile comprehensive market data that is available to home sellers and buyers. Learn about what we can do to help you with buying or selling real estate by visiting dukewarner.com, browsing our Facebook page, or calling us at (541) 382-8262.

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Why Sellers are Still Hesitant

Why Sellers could be hesitant to list their home

It seems that the real estate market in Bend is booming, and that it would be the perfect time to sell. But most sellers are quite hesitant to list a home, due a variety of worries.

Sellers’ Market

It is completely a sellers’ market at the moment. It’s the best time to list your house for one of the highest prices it may ever be valued at. Selling your house during the current market means you could make a considerable profit.

Unfortunately, selling your home means that you do need a place to live. And if it’s a seller’s market it’s definitely not a buyers’ market. While homeowners may be able to sell their home for a pretty penny, they’re also going to have to shell out a considerable amount to relocate. Relocation may just mean across town, to a smaller property, or a different city or state. Potential buyers are facing a lack of affordable inventory.

Financial concerns

Staying in the house they own might make the most sense for potential sellers. They may have refinanced their home, and know that they won’t make as much of a profit as they need to turn around and buy another property. Some buyers, particularly those who bought between 2004 and 2007, still may be deep into their mortgage. Their house may be worth less than the mortgage amount that they still owe.

Lifestyle

Some sellers may not be able to afford to relocate to an area that is desirable to them, whether it’s the area that they’re already living in, or one they’d like to move to. Some common retirement hotspots are seeing a surge in real estate value, making it impossible for potential buyers, like retirees, to get in.

Some potential sellers may also be facing other lifestyle problems, such as aging parents that require care or after-college age kids who still may be dependent on their parent’s home as a place to live.

Selling a home

Selling a home is a big decision, especially when there are certain factors that you take into consideration, like finances, family members that are dependent. You may not be ready to sell a house, especially if you can’t afford to buy one in the market you live in or the market you’re considering. Moving alone can be expensive, so be sure to consider all of the avenues of selling your home, to make sure you’re ready when you do. Get in touch with a local real estate broker at Duke Warner Realty, to take a look at the market trends, and what potential properties are selling for. Make an informed decision to put your house on the market and have a plan.