Key considerations for serious Ventura County home buyers in today's real estate market are:
a) Register for email listing alerts so that you'll be among the first to know when a new listing that meets your requirements hits the market. The most desirable homes sell very quickly under the current market conditions. You need to be on top of new listings before the others who are searching for the same type of homes.
b) You absolutely must be pre-approved for financing. Your offer will not even be looked at unless you have been pre-approved with a reputable lender. Even pre-qualified is inadequate. If you'd like to know the difference between being pre-approved and pre-qualified call me.
c) Have a really good sense of where the true market value of a specific home listing is for today's market regardless of its listed price. I can assist you here with my 28 years of appraisal experience.
c) Make your first offer your best because chances are you won't get a second chance. Be as aggressive as you are comfortable with but do not overpay. If you are coming into the transaction with the minimum required down payment, the home will have to be appraised by the bank at the full offer price. If it doesn't you may not get your loan approval.
Making an offer on a home based upon area price per square foot is simply not a good idea. The price per square foot metric does not account for why one property in a specific neighborhood sells for more (both a gross price basis and on a price per square foot basis) that other homes. It lacks an in depth accounting for differences in property characteristics such as a good location versus a very good location, curb appeal, landscaping upgrades, interior upgrades, condition, size of the rear yard, remodeling, condition, etc.
By analyzing recent sales in a neighborhood and estimating the contributory elements of their individual sale prices, we can look at current listings with a more educated eye and be better able to determine a reasonable offering price based upon the merits and individual property characteristics of that property. As a certified residential appraiser I have the background, experience, and education in valuing property and individual property characteristics that most agents simply do not have.
Call me with your questions
If you should have any questions about a specific neighborhood or a specific property that I can answer for you, please do not hesitate to call me. I can be reached at (805) 881-3805. I love answering questions and helping people like you purchase their next home.
These preferred local businesses are available and happy to assist you with your real estate needs.