Tuesday, November 06, 2007

How Do You Find the Perfect Home in a Buyer’s Market?

Yes, I am told it is a buyer's market. There is way too much inventory on the market, and too many houses that are not selling. But still, I have good, qualified buyers who need a special home.

One such family is a blended family. Mother, Father, total of four children. Each parent was married before and each had two kids. So we don’t just need a new house…we need the perfect home. Each child has been promised their own room. After all, they each had their own rooms prior to the remarriage – why should they be penalized because of the family blending? And with such a large family, and both parents working, an au pair is essential

So now we are up to six bedrooms. We need to find the right home in the right school system, and you guessed it, those needs don’t always match up. There’s another challenge, too. With a price range of $500,000 to $750,000, you’d say we have a generous budget, but we have a lot of specs to satisfy. We need a kid friendly neighborhood with sidewalks and places to ride bikes. We need a neighborhood with charm and character, and houses with style - no clone-onials, no tract houses. The kitchen has to be big and warm and friendly, and a place for meals, homework, and gatherings - in other words the hub of the house. There needs to be room to "get away" with kids’ space and adult space. That’s not all! It has to be in the northern part of Baltimore County or in northwest Baltimore City in an area like Mount Washington. Easy access to the Baltimore Beltway is a must.

I have placed an "ad" on my www.buyers4yourhome.com, and am going to make up flyers for the buyers to leave at homes they have an interest in. The flyer will read:

"Dear Home Owner, Our family would like to live in this neighborhood. We like your home and if you are thinking of selling, please contact our real estate agent: Margaret Rome, Coldwell Banker, 410-530-2400 mrome@homerome.com 866-806-2353. All calls are confidential.”

I will make up a batch of these flyers for the buyers to keep in their cars. When they see a home they both like, they can slip the flyer into the mailbox or front door. I instruct them to let me know which homes they are interested in so I can be prepared when the call comes in. I can do the research in advance – how much it is assessed for, how long the present owner has lived there, taxes, comps etc.

Why wait for the perfect home to come on the market? Anyone can wait for a home to show up in the MLS. Be proactive! These days, some sellers may be holding back, thinking they will wait until the market gets better. Just because it’s not in the MLS, don’t assume a home isn’t for sale – especially if it seems like the perfect home for your buyers.

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