House searches cool off in the fall and slow to a crawl in December. The winter months mean home sales tend to go cold, but they can be a hot time to get a low price on the house you want. What does that mean for you? Less competition and more opportunities to score a deal on the house of your dreams.
Before you even think about hitting an open house, you need to know what you are looking for.
Start by sitting down with a pen and paper — use the “Ben Franklin” method, needs on one side, and wants on the other.
Under needs, put your non-negotiables. If you have a growing family, you may need three bedrooms, two baths and a fenced-in yard for the dog. Under wants, you may crave a gourmet kitchen or a large master suite. These are things you can live without, but life would be nicer if you had them.
Ofir Hillel, broker/owner of Orange Key Realty, states, “It goes without saying there is no perfect house, and if your funds are limited you should be prepared to sacrifice some items on your want list for an otherwise serviceable house in your range.”
Your first stop should always be the bank to get loan preapproval. Establish an affordable price range. Provide an edge to bid wisely in the event of a competing offer.
It can speed up the underwriting process once you have a purchase agreement.
Once you know how much you can afford, it is time to find your agent. Agents at Orange Key Realty will walk you through the entire process.
“It may be tempting to go it alone until you find a promising house, but our welltrained sales agents will be able to provide an inside track on hot listings or steer you toward perfect properties not on your radar screen,” says Michael Matthews, broker/owner of Orange Key Realty. “Always feel free to ask our agents about their knowledge of the area and market trends, as well as if they have a grasp on your wish list.”
Orange Key Realty’s staff of sales and broker associates can be reached at either: 863 Georges Road, Monmouth Junction, (732-297-6969) serving Middlesex County, and 60 E. Main St., Freehold, (732-863-6969) serving Monmouth County, or go to www.orangekeyrealty.com.