The real estate market crash hit hard on the housing prices. However, the industry is on the recovery state and although this is good for the economy overall, it is not obvious that those looking to buy St George homes will get homes at their desired price in St. George, Utah. In this post, we examine some of the reasons why you may not be getting homes at the desired prices in St. George Utah. Therefore, keep reading to find out the common mistakes leading to bad pricing on the homes.
You do not take time to find a great lender and the right mortgage for you
Did you know that the mortgage lender and the type of mortgage have a huge impact on the total cost of buying homes in St George Utah? Ideally, the best mortgage lender will give you an affordable mortgage. Therefore, if you find a mortgage lender who gives you an inexpensive mortgage, the total cost of buying a house will be within the desired amount. Otherwise, if the home buying mortgage is too expensive, you end up paying a high amount for the property.
On the other side, the mortgage type has a significant effect on the type of cost of buying a house. For instance, if you qualify for home buying mortgage programs, it means that the total cost for the St George homes will be within a manageable margin. Therefore, make sure that you go for a great lender and the right mortgage to ensure the total cost for purchasing the property is within the desired range.
You did not take time to find a good real estate agent
A good real estate agent could be the answer to securing a good price, if buying homes in St. George Utah. Therefore, homebuyers should spend time vetting the available real estate agents to make sure you find a good real estate agent. Remember that a real estate agent understands the local market very well. Therefore, if you find an experienced and reliable real estate agent, you will be in a position to find a property that falls within the desired price range.
In addition, real estate agents guide the homebuyers when it comes to finding a mortgage lender. Some established realtors have established good networks with the mortgage lenders. Therefore, they are able to secure a good rate for their customers.
Not comparing the available real estate properties
Another reason why you end up paying home builders in St. George Utah an exorbitant price is failing to compare the available properties. You will find St George homes available at different price ranges. All these properties have different features. Moreover, some other factors like the neighborhood and the social amenities affect the price of the house. However, the reality is that you may not be so much concerned about the amenities that are resulting in a high price. Therefore, if you look around, you will be in a position to secure a similar property although it is at a lesser value. Therefore, consider doing some shopping around to find different properties and comparing the prices at which these properties are sold.
You are buying at a time when everyone else is looking for St George homes for sale
Buying a property during the time of the year when everybody else is looking to buy means that you will end up paying a high price for the property. However, if you wait for off-season and buy a house, then you are most likely going to buy at a lower price. Therefore, make sure that you purchase the house at a time of the year when there are not many buyers looking for homes in St. George Utah.
You only factor the "for-Sale-by-Owner" options
For sale by owner, may mean there is no agent, and so the seller is not paying the 6% commission. Therefore, buyers are duped into thinking that such properties are cheaper compared to those being sold by the agent. The reality is that in most cases the seller has not been guided by the real estate agent and so sets a price that is outside the prevailing market price. In that regard, do not assume that properties for sale by owner are cheaper. Ensure you have done proper market analysis to establish the prevailing market prices.
Not attending the open house day
Attending the open house day helps the homebuyers to network with others. Therefore, it is an opportunity to find out what the market has to offer and the prevailing prices. This is therefore, an enlightenment opportunity for the homebuyer. Therefore, ensure that you have attended the open day so that you get a chance to meet up with the other homebuyers.
Now you know some of the reasons why you may be paying a high price for St George homes. Talk to an experienced real estate agent to find out the prevailing market prices.