Mistakes Buyers make when Purchasing a home

Here is a short list of some of the mistakes buyers can make when purchasing a home:

1. Making an offer without being already pre approved for a loan: this makes your life easier and helps you determine the amount of money you can spend on a home. When making an offer it also lets the seller know that you are serious about the home. Always make sure that your Buyer's Agent only shows the amount of the offer you are making (you could be pre approved for more and you don't necessarily want the seller to know this if you are making a lower offer).

2. Not having a home inspection: Don't try to save money today, it could cost you a lot more later on.

3. Limiting your search to open houses, ads or on the Internet: Many homes are sold by the time the ad comes out in a magazine or possibly even on the Internet. Your best course of action is to contact a Realtor. They have up to date information that is unavailable to the general public and are the best source to help you find and negotiate a home that you want.

4. Choosing a Real Estate agent that is not committed to forming a strong business relationship with you: choose a professional who is dedicated to serving your needs before and after the sale.

5. Thinking there is only one perfect home out there: Be open to looking at all possibilities. New homes come on the market almost daily and there really is no such thing as the "perfect" home. Ask your Agent to do a market analysis on any home that you are considering purchasing so that you can see what is selling in the neighborhood.

6. Not considering long term needs: will this home suit your needs in 3-4 years? It is important to think ahead.

7. Not examining insurance issues: Make sure you purchase adequate insurance. Get advice from a professional in the business.

8. Not buying a home protection plan (Home Warranty): This is a mini insurance policy that usually lasts for one year and covers basic repairs that may come after closing. Ask your Agent to show you the different plans.

9. Not knowing the total costs involved: Either your Realtor or lender can give you an approximate estimate of your closing costs up front so that there will be no surprises later on. Always examine your closing statement prior to closing.

10. Not following through on due diligence: Always ask questions or find out where to get information such as crime rates, school information, power lines, neighborhood information, shopping etc so that you are an informed buyer. Always get this information before you purchase.

Selling your home in El Paso

The real estate market in El Paso has softened up a bit from this time last year. As a matter of fact there are many more homes on the market and they are taking a little longer to sell. Pricing is one of the most important factors in today's market along with condition of a home.

When you are in the real estate market that we are in currently and there are more buyers than there are sellers (at the moment) then the buyers have numerous choices to make before they may choose yours. Maybe step back and pretend that you are a buyer looking at a new home and see if you would pick yours from the competition in your surrounding area.

Look at the curb appeal and see how yours stacks up-is it clean and fresh looking. Going inside -is the clutter gone and the home looks fresh and clean. Make sure all the blinds are open and even the lights are on when someone is showing your home. Most important let the Realtor do their job-let them show the home and if they have questions, they will let you know.

Our market is still a very under rated real estate market and things are getting ready to change for the better. The new Medical School, the expansion of Ft. Bliss and the high tech military group that is already here will make the El Paso real estate market explode. Just be ready!!!