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There
are many benefits of home ownership
- Growing equity
- Homes appreciate
about five percent a year on average, and recently
in San Diego County, quite a bit more than the
average.
- Appreciation helps the value
of your investment.
- Tax savings - The interest
on your mortgage and your property taxes are both
tax deductible; the government is essentially
subsidizing your home purchase. Income taxes paid
are less due to the IRS interest rate deduction.
Determining
what to offer:
How to
determine your offer - As you are thinking about
your offer to purchase a home, look at the condition
of the home, what other homes have sold for in that
area recently, how many other people are making
offers, and how much you want this particular property.
- Comparable
sales - A professional realtor has immediate
access to the latest data on sales in the market
area you desire. She can provide detailed information
on active listings, as well as a history of sold
properties in the area. Finding the perfect home
in San Diego County can be a daunting task, especially
if you are unfamiliar with the nuances of each
area. We understand that each family has unique
requirements, and we are dedicated to helping
your locate the best neighborhood and the best
value for your lifestyle.
- What price is
too low? - If you make
an offer which is too low you run the risk of
losing out to a higher offer and/or alienating
the seller.
- What
price is too high? - Most buyers are
unlikely to make an offer that is too high, but
in some cases people just fall in love with a
certain house and offer over the market value.
The danger here is that if they pay too much,
and the home does not appreciate past that amount,
they could lose money at the point they decide
to sell the home.
- Negotiable
costs - In addition to the offer on the
home price, buyers may choose to ask the seller to
cover some of the other costs associated with the
transaction as a bargaining tool.
Factors which
may affect price:
- Circumstances
of the sale - In a
distressed property, the seller may be in a hurry
or the property itself might need work. Asking
price - The asking price is a starting point,
not necessarily where things will end up.
- Condition
of the property - There
are three kinds of conditions - average, greatly
improved, and in definite need of attention. These
affect your offer price and terms.
- Current
market conditions - Comparable home sales,
the local economy and other factors affect your
offer.
- Improvements
to the property - If there
are special additions and features which are attractive
to you, this may justify a better offer.
- Get your
agent's advice - Be sure
to do a reality check with your agent as a test,
and as a way to verify everything is ready. Your
offer should reflect enough "room" for negotiating
a few thousand dollars if necessary.
Let us
help you find that perfect home ...
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