buying a home for the first time

Posted by Greg Hancock

Buying a Home for the First Time

Though real estate is a highly local phenomenon, today’s market is still moving fast with regard to buyers facing stiff competition in many cities around the country and buying a home for the first time or even second time requires being on the ball and fully prepared.

My business partner Marty Snyder and I counsel buyers that “want to sleep on it” greatly increases the chance (in most markets) that another offer will be presented and accepted or find themselves in a multiple offer situation and resultant bidding-war when the call for "highest and best" goes out.

buying a home for the first time

One of the things that can hinder buying a home for the first time is too great an expectation of deep discounts.

Currently around SW Ohio and the greater Cincinnati area, for instance, looking at asking vs sold prices, you can see a discount of 2-4%. That will likely change somewhat when we swing back to a full blow buyer’s market should we experience another real estate market crash.

Occasionally, a home is priced extremely well, but consult with your Realtor about how much to offer but also how to make the offer more attractive.

Hint: It’s not always about offering more money

How to get your offer accepted

Another frustrating thing that can hurt your chances of buying a home for the first time and accomplishing two goals – landing the home you want and getting a decent price, is the responsiveness and timeliness of your buyer’s agent (never call the listing agent, they promised the seller to net as much as possible from the sale.

Make sure you review and investigate who you choose to work with, testimonials and reviews are everything. You want to see lots of recent good reviews and lots of sales. You don’t want to use an agent that is a hobbyist or “sunshine agent”.

Buying in SW ohio or greater Cincinnati area? Our reviews

Lastly, pre-approval is everything as no seller will entertain an offer that is financed without this document from a licensed mortgage lender.

Want to buy a home? Get serious and start here

greg hancock, realtor ohio

Greg Hancock

Realtor, Webmaster, Social Media 513 360 7061

Greg@SWOhiorealestate.com

Contact my business partner Marty Snyder Cell: 513 292 9374

Marty@SWOhiorealestate.com

5 Responses to "buying a home for the first time"

Mindy Walker wrote: you always write some very informative articles and i really appreciate you taking the time to do them!
i'm a first time home buyer and i need all of the help i can get. thanks again!

Posted on Monday, August 15th, 2016 at 6:20am.

Greg Hancock wrote: Hello Mindy, Thanks! I sent you an email with some first time buyer info for SW Ohio and Cincinnati area. If you could answer a few of those questions for us, we'd be glad to help. Have a super week, cheers!

Posted on Tuesday, August 16th, 2016 at 12:48pm.

elise wrote: hello greg, do you guys work in batavia? also do you know of any down payment assistance for there? i'd really appreciate anything you can tell me, thank you in advance.

Posted on Friday, September 9th, 2016 at 7:45am.

Greg Hancock wrote: Hi Elise, yes we do, my business partner Marty is frequently showing homes in Clermont County. There are several ways to get down payment assistance for homes for sale in Batavia and Batavia Township, Ohio. There's USDA for qualified homes, OHFA down payment assistance, upwards of 5% of the purchase price in the form of a forgivable grant and sometimes cities and counties offer first time home buyer assistance, though you don't necessarily have to be a first time home buyer to qualify. The very first post on this blog is also about the Welcome Home Grant usually offered just prior to spring for $5,000 toward a purchase of a primary residence. Enjoy the blog posts here, but also sending you some articles detailing what Ohio and your area offer. We'd be glad to help you. Make it a great day.

Posted on Friday, September 9th, 2016 at 7:50am.

Jade Brunet wrote: It is good to know that one should review and investigate who they choose to work with when it comes to hiring a realtor. I like what was said about finding someone who has lots of recent good reviews and lots of sales. Another thing to look for would be to locate someone local who is very familiar with the area in which they will be working.

Posted on Monday, March 20th, 2017 at 2:57pm.

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