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Tag Archive real estate market

You don’t know what you don’t know

If it’s your first time buying or selling real estate, you don’t know what you don’t know.

There are tons of potential pitfalls and challenges along the way that it’s hard to anticipate when you don’t know what to expect.  The last thing you want to do is lose because you tripped over one of these.

But luckily for you, most of the missteps taken by first time buyers and sellers are pretty universal, which means you can learn from their mistakes and avoid falling into the same traps.

Here are four common real estate mistakes to avoid the first time you buy or sell a home:

1. Thinking you know the right price

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The price of a home – whether you’re buying or selling – is one of the most important components of a real estate transaction. But there’s a lot more that goes into pricing than what meets the eye.

Pricing a home is a kind of a blend of art and science. There are so many factors that come into play – time of year, current market conditions, how quickly homes are selling the neighborhood, the current value of the home. I take all of those factors into consideration when helping you come up with the right price for a home.

Without a real estate background, it’s impossible for most to understand all of those conditions and how they affect the price of a home. If you’re selling, you’re likely to think your home should sell for a higher price because of the value it holds for you. If you’re buying, you’re likely to think a property should sell for less because that means a better deal on your end.

But ignoring pricing advice because you think you “know” what the price of a property should be is a mistake. As a seller, you’ll end up overpricing your house (which will leave it sitting on the market). As a buyer, you’ll end up lowballing your offer (and losing the house in the process).

The first time you’re buying or selling a home, it’s your best bet to leave the pricing to the experts. Your real estate agent will always work to get you the best deal – and keep you from pricing yourself out of the deal you want.

2. Not budging on negotiations

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Another mistake first time buyers and sellers make is being too rigid when it comes to negotiations.

Most real estate transactions require a bit of compromise. As a seller, you might need to give in on some of your buyer’s demands and as a buyer, you might need to work with the sellers a bit in order to close the deal. It’s just the way real estate works. And if you’re not willing to give an inch, the deal can very quickly go south.

Now, just to be clear: you should never compromise TOO much. Don’t compromise on the things that are important to you. But if a minor repair is all that’s standing between you and closing your real estate deal, giving in can be much easier than walking away.

3. Not thinking outside of the box

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If there’s a mistake that nearly all first time home buyers make during their home search, it’s not thinking outside of the box.

Most first time buyers have a very specific idea of what they’re looking for in a home. And while it’s fine to know what you want, refusing to look at properties that don’t check off every single item on your wish list is a major mistake – a mistake that can keep you from finding a home you’re in love with.

If you want to find a home you love, it pays to get creative and see as many properties as possible. Have certain non-negotiables (like a specific number of bedrooms or a designated outdoor space) but allow for some wiggle room on everything else. You’ll end up seeing more properties, and who knows? You might fall in love with a house that’s totally different from what you thought you wanted – a house you would never have seen if you didn’t think outside of the box.

4. Trying to do everything on your own

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Perhaps the biggest mistake you can make the first time you buy or sell a home is trying to do everything on your own.

Buying or selling a home is not only hard work, but it requires a certain level of knowledge and expertise. You need to know where to look for hot properties, how to market to buyers, how to negotiate, how to file all the paperwork… if you’ve never bought or sold a home, it can be completely overwhelming.

Which is why you need a real estate agent to walk you through the process. When you work with a great real estate agent, they make the experience of buying or selling a home easier, faster, and more profitable.

Trying to do everything on your own is a mistake. But hiring a real estate agent can quickly rectify that.

Buying or selling your first home can be overwhelming. But now that you know the most common mistakes to avoid, you’re well on your way to a stress-free first time buyer or seller experience!

Still have more questions?  Do you want to sell or buy a property?  Call me at 717-371-0557, I’ll be happy to help you!

If you want to search Lancaster County or Central PA homes for sale, visit www.JasonsHomes.com to access an MLS home search that shows you all the homes for sale in the Central PA Multiple Listing Service (MLS) !

As always, I’d like you to be part of the conversation, so if you like what you read here please feel free to let me know, forward this post to your friends and subscribe!

If you have questions, need real estate advice or want to buy or sell a home, you can call or text me at 717-371-0557, email me at Jason@JasonsHomes.com or contact me at the office at 717-291-1041!

Your Friend in Real Estate,

Jason Burkholder

Realtor, e-Pro
Associate Broker
Certified Marketing Specialist
Weichert, Realtors – Welcome Home
717-291-1041 office
717-371-0557 direct or text

Online Video Open House of Clock Towers Condos in Lancaster Pa – 917 Columbia Ave Lancaster, Pa 17603

Welcome Back !  Today I’m taking you through an Online Video Open House featuring a Lancaster County PA Condo community called Clock Towers.    Located at 917 Columbia Ave, Lancaster Pa 17603 Clock Towers is an architectural beauty, it’s the former Hamilton Watch Company (1892-1969) building that was converted to condominiums.  With exposed brick, original vault doors in some units, high ceilings and lots of windows, the variety of sizes and layouts of the homes in this community will amaze you!  Click through to check out the video and read more info!

SOLD! Web Trek Online Video Open House for 17 Kennedy Drive Ephrata, Pa 17522 – $220,000 – MLS # 199198

Welcome Back!  Today we are taking a look at 17 Kennedy Drive Ephrata, Pa 17522!  Located in the neighborhood of Lincoln’s Meadow, this 3 bedroom, 2.5 bath home features an open layout spread over two levels totalling 2.085 square feet.  Click through to watch the Online Video Open House and learn more!

SOLD-Web Trek Online Video Open House 1520 Park Lancaster, Pa 17601 – For Sale – $160,000 – MLS# 192630

Welcome Back!  Today we have an Online Video Open House for 1520 Park Road Lancaster, Pa 17603!  This spacious brick ranch style home offers over 1,400 square feet of living space with natural green views from all of the windows!  Click through to the video and read on to learn more!

Short Sales are the Answer! But What Was the Question Again?

I was reading an article on CNN Money.com today titled “How to rescue the housing market: Foreclosures!”.   Not a great title I would say and more importantly in my opinion not a great concept at all.

The gist of the article is that the government needs to reverse the policies of the last 4 years since the housing downturn and actually encourage foreclosures as a means of “stabilizing” the housing market.  They included this interesting graph (above) showing how more home owners are becoming delinquent for longer periods of time.  (read on after the jump for more)

Web Trek Online Open House 113-115 North Ronks Road Ronks, Pa 17572 – $175,000 – MLS #183721 – SOLD!

Welcome Back Readers!  Today we have a Web Trek Online Open House of 113-115 North Ronks Road Ronks, Pa 17572!  This duplex home is located in the Heart of Lancaster County’s Amish Country and presents an excellent opportunity for the home owner or investor!  Click through to the tour and read on to check it out!

SOLD – Web Trek Online Open House of 100 Red Maple Lane Mountville, Pa 17554 – $192,500 – MLS# 182920

This property is now sold 11-14-11! Welcome Back Readers!  Today we have a Web Trek Online Open House for 100 Red Maple Lane in Mountville, Pa 17554!  This 3 bedroom, 2.5 bath home is just 4 years young and being offered for sale at $192,500!  Close to everything just a few minutes from Lancaster, this home in Millstone Village offers you a chance to own a modern classic!  Click through to the video tour and read on for more!

SOLD! Web Trek Online Open House of 617 West Vine St, Lancaster, Pa 17603 NEW PRICE – $69,900, MLS 181811

Welcome Back Readers!  Today we have a Web Trek Online Open House at 617 West Vine Street in Lancaster City’s historic West End!  This huge detached property is 1,619 Sq ft and offers 4-5 bedrooms and loads of storage space!   Check out the video for your personal tour!

Again, Zillow Ranks Lancaster PA one of the Best Places to Buy a Home Right Now!

Welcome Back Readers!

Once again Zillow.com  has ranked Lancaster County as one of the best places to buy a home right now!   As reported on Forbes.com yesterday, due to “affordability, as measured by home price to income ratios; the unemployment picture (both the absolute figure and how it’s trending over time); the foreclosure situation; and year-over-year housing price trends”  Lancaster County PA is the 8th Best Place to buy a home in the nation!  Read on after the jump for more!

Zillow Ranks Lancaster County 7th Best Place to Buy a Home!

Welcome Back Readers!  Today we are bringing you some particularly awesome news, Zillow has recently ranked Lancaster County PA as one of the top places in the nation to buy a home 2011!  We hit the list at Number 7, which considering we were competing with literally thousands of places across the nation is pretty spectacular!

The best thing about this ranking?  It takes into account what is happening NOW.  In this economy, with the current unemployment rate, interest rates, affordability levels, etc.  I’ve said it before and I’ll say it again, if it’s the right time for you to buy, there are great opportunities out there right now.  Read on after the jump to see why we were included in the list of the Best Places to Buy in 2011!