Quite honestly, too many people in our market are currently caught up in this mindset of “I have to get a great deal” on a home.  Truly great deals where you buy a hugely undervalued house on the retail market are few and far between.  Most of the best buys happen outside the Multiple Listing Service (MLS); purchased by investors who can close quickly.  If that kind of deal were to fall into your lap, anything less than a cash offer with immediate closing would likely mean the missing out on the purchase.

 

The good news is that there are all kinds of solid deals currently available on the MLS.  Certainly, you and your real estate agent should perform your due diligence by checking out sold properties comparable to the homes you’re considering so you have a firm grasp of the market value.  But the best advice I can offer is to find a house you love and then work on getting a good deal on that particular property.  Don’t allow a few thousand dollars (or $10-$30 additional on your monthly payment) to keep you from owning your dream home. 

Most houses in our marketplace will rise in value over time.  However, even though it is a big investment, you are still purchasing a home.  Find one with the features and amenities you need and enjoy.  Then, using comparable sales as a guide, make an offer that has a solid chance of getting you in the home.  And don’t make the mistake of determining whether or not you’ve gotten a deal by how far below the asking price you purchase the home.  Buying a correctly priced house at list price can often be a much better deal than purchasing an overpriced listing tens of thousands of dollars below asking price.