How to Know if You got a Good Deal on your Hamilton NJ Home

This is a tough real estate market, here in Mercer County NJ and nationwide.  Both buyers and sellers - and their Realtors - deal with a lot of uncertainty throughout the process, from lenders, title companies, appraisers, and themselves.  Everyone wants to finish the transaction feeling it was fair to all parties, and without regret.  How best to accomplish this?  Here are some ideas.

1.  Make a wish list of needs and wants and prioritize them.  If you know you got most of the amenities you wanted in a home, at a price you can afford, then you will feel more like you "got a good deal."  If you are a "bottom feeder" - offer low ball prices hoping to find a desparate seller - then you aren't looking for amenities so much as a low price.  With this type of purchase, you know you will have to put in some money and/or work before you resell.  So understand what kind of "deal" will satisfy you.

2.  Do you homework so you will understand the market and sales prices of comparable homes.  A Realtor is your best source of real estate information.  If he or she gives you a competitive market analysis that shows your purchase price is reasonable for other neighborhood sales, then you have another benchmark for feeling you "got a good deal."

3.  Consider the whole market, the season, and affordability.  The winter months are generally slower for sales, so sellers might be more committed to negotiation.  If your low offer is accepted, factor in the costs of repairs.  If the house is in an area of many foreclosures and short sales, then your new home might take longer to appreciate than in other communities.

4.  Good deals come in more than one shape or color.  If the seller offers to pay closing costs, or helps you buy down the rate so your mortgage is less, or will pay for repairs - any or all of these add to the quality of the "deal" you will get in your new home.

The bottom line is to get an experienced, knowledgeable Realtor working for you, one who knows the area and the prices.  As a buyer, this expertise is free - why pass up free professional services?  He or she can help you finish escrow feeling you got a "good deal."

Joe Giancarli, SA
Real Estate Advisor
Short Sale Specialist
609-658-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://www.njhomesource.com/