Welcome to the Agent4Oregon.com Blog

2011-02-24 14:14:28
5 Common First-Time Home Buyer Mistakes

1. Not getting Pre-Approved for a loan 'prior' to shopping for homes.  Buyers commonly get the cart before the horse and find the home they want and then want to write an offer quickly before someone else gets it.  Sellers in todays market would not consider accepting an offer from a buyer without a loan Pre-Approval (not a pre-qual) letter.  That leaves the buyer scrambling to get an approval which can (depending on several factors) take several days.  The sellers of the home they are wanting to write an offer on could have accepted an offer from someone else by the time they get the approval letter.  An experienced Realtor will be able to refer the buyer to several good loan officers.

2  Not finding an experienced agent and/or not paying enough attention to their recommendations (special types of inspections, lender recommendations, negotiation tactics, etc).

3. Not knowing enough about the area they are buying the home in (traffic patterns, schools, crime, etc).

4. Not doing enough to make themselves and/or their offer look appealing to a seller.

5. Not thinking about their potential near future needs and the resale value before they buy.  Sometimes 1st time buyers only look at their immediate needs... such as we need 2 bedrooms, don't need a garage, etc.  Then, just 1 year later, they have bought a boat, the wife is pregnant, and the husband has purchased a bunch of tools to work on the home with... now they need 3 bedrooms and a garage!  The average first time buyer only stays in a home for four years.  Purchase a property that will be appealing to a buyer when you get ready to sell. 

 

Richard Canifax, Principal Broker 503-347-8144

 
Blog Archive
2016-08-22 14:47:21
Best time in history to invest in real estate

2016-02-16 10:58:47
11 new buildings planned for downtown Portland

2016-02-16 10:52:58
Record-setting month for Portland-area housing

2016-02-16 10:40:56
Property taxes - 2015 Tax Hike

2015-12-23 13:29:43
Presidential Candidates Talk Real Estate

2015-12-08 15:25:56
Reflecting on the Past, Present, and Future of Por

2015-12-07 21:18:23
14 percent annualized rent growth in Portland

2015-12-07 21:13:47
U.S. homebuilder confidence hits highest level in

2015-04-06 09:34:54
Portland-area home prices gain at 7.2 percent

2015-04-06 09:25:28
Clark County grows faster than Portland

2012-04-10 16:48:08
10 Home Maintenance Tips for Spring

2012-02-18 09:21:16
What Pays Off in Remodeling Today?

2011-02-24 14:14:28
5 Common First-Time Home Buyer Mistakes


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.