To First-Time Bargain Hunting Home Buyers

For those first time buyers who have stayed on the sidelines waiting for the house market dropping in the Valley, here’s your good chance now. Not only the California government has the $10,000 tax rebate incentives, but also at the Federal level, home buyers of 2009, will enjoy a $8,000 tax refund program as one of government’s Housing Stimulus Plan 2009.

Here Are Some Good Tips For Bargain Hunters:
1.Be BOLD: It’s very hard to define a fair market value these days. So ignore the listing price. Get ready to negotiate a price you desire. Never go in at asking price these days.
2. Do Researches: Find out why the seller’s motives? Are they really ready to sell, why are they selling? Lost jobs, relocate, divorce, if sellers have imminent reason for selling, you may probably get a good bargain.
3. Strategies: A lower than market value house put on the market these days will draw a crowd of multiple bids. What is your utmost limit? Are you joining the crowd for a wild ride? Get COMPS if you can, find a price REASONABLE for the market and a price you are WILLING to pay. Don’t ever feel being pressured.
4. Have 30% downpayment Ready: Money is tight these days, banks straightening their qualifying guidelines, a 25% -30% insurance for banks is not unsually. Have you cheked your FICO scores lately, a minimum of 720 is required for a convention loan.
5. Negotiate All Conditions: For condos, townhomes, HOA, closing cost pay by sellers are not uncommon. For single family homes, somtimes seller will finance if buyer is short of cash.  Negotiate the remodel cost in the contract is often used by smart buyers.

Have you got a good negotiator who knows the market well and has good eyes in  finding bargain properties for you? Please try me, give me a call today.

Jin Chen
REFERRAL REALTY, CUPERTINO, CA
408.996-8100 x 316
http://www.realtorjin.com

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