So buyers have had it tough for a long time. It’s been a difficult market, you’ve had to lace up your Keds, and run toward any property that looked like it might match your family’s needs. The market has adjusted, however, some buyers are still not feeling like they’re successful in finding what they’d hoped to see.
Featuring:
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Bob Nelson: It’s an interesting process, because on occasion, frankly you don’t know what you want. You’re looking and you’re looking and you’re looking, and then time passes and all of a sudden what you were able to potentially afford you can no longer afford. That may be because you didn’t define what you were after. Price the probable product that you are after and make your moves precisely when the opportunity shows up.
Marcia Edwards: Go back to the table and get the counsel you need to understand how you will be successful. So, you basically go through your parameters, see if you can broaden them, if you can compromise, if you don’t really need a fireplace where you can adjust from ceiling heat and get a forced air system while you’re in ownership. Those kind of things where you adjust your dreams accordingly to fight to broaden your search parameters.
Then I would encourage you to have the realtor do a printout of what has sold that meets those parameters over the last 90 days to six months, and make sure it exists, that you have met the expectations in the market.
Bob Nelson: That’s an interesting process because if I were to go to you Marcia, you would be able to… If I told you the things that I was after, you could put a screen into the RLMS system and have it identify these properties met those characteristics, or the majority of the characteristics, and you’d be able to punch a button and print out what it costs to buy that series of benefits.
Marcia Edwards: In addition, you’re prepared as a buyer because you can also see how far off the list price people are negotiating in your particular market. Also how long, how many days in the market sellers are expecting to see an offer within, for time frames. So, you really become a smart buyer in that window of time looking at properties you cannot have that match your parameters because of timing, but it’ll make you smart when something does come up.
Bob Nelson: So, if I knew what I was doing, and I’m not born with that intuition the majority of the time, how would I find that. What do I do to develop the screen?
Marcia Edwards: You’ve got to call a realtor. You’ve got to find someone that will take this approach, they’ve got to run the transaction. A lot of times you’ll call a realtor to get the door open and get inside. That’s not the right process. The right process is to be a student of the market, learn from what’s already happened in the marketplace, and then go looking.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30 on KPNW for the “Real Estate Today” radio show.
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