It’s been a long time since someone said to me “I just want to find a place that I love”. House hunting should be fun & exciting- an adventure to find the perfect new home. In reality, to get a great deal on a home you’re going to have to give up something. Nearly ALL of these deals have issues… must purchase in AS-IS condition, no right to an inspection, lack of financing for rehab properties, a high percentage of the entire condo building is not sold yet, etc. If you have the patience, means and ability to keep your expectations in check, you can find great deals. And you should go after them!

You shouldn’t be buying today unless you plan to stay in that home for a minimum of 4-5 years. It’s probably a good idea to like the place! If you’re like the majority of my clients who have no experience rehabbing, who don’t have the extra money (or time) to both buy and then repair a home, who don’t want to live in an area that is less desirable given their needs, who aren’t thrilled by a building but found a cheap home in one, who don’t feel comfortable buying home sweet home via auction, well don’t feel bad! You’re just like most buyers in the market today or any other day for that matter. Yes- there are great deals out there today. It’s clearly a buyers market. That’s exactly why the most effective buyer strategy today is to focus on finding the home that you love. Look in the neighborhood you really want, go for that extra half bath, and make sure to get that parking spot included. Once you find the perfect new home, use time trusted negotiation techniques (comparable sales data, advice from a real estate professional, identify the motivations of the seller, etc) to then negotiate the very best deal possible. Sounds like a great deal to me!

-Michael Hulett