{"id":19636,"date":"2021-11-09T13:32:20","date_gmt":"2021-11-09T13:32:20","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19636"},"modified":"2021-11-09T13:32:20","modified_gmt":"2021-11-09T13:32:20","slug":"unrealistic-expectations-of-first-time-home-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/unrealistic-expectations-of-first-time-home-buyers\/","title":{"rendered":"Unrealistic Expectations of First-Time Home Buyers"},"content":{"rendered":"

Unrealistic Expectations of First-Time Home Buyers<\/h1>\n
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A first-time home buyer may need to be educated about the realities of the housing market before they fall in love with a home and then quickly lose out to another bid. To prevent heartache, real estate professionals can have frank conversations with their buyers about the realities of the competition and the amount of money it takes to become a home buyer in today\u2019s heated market.<\/p>\n

No home will be perfect.<\/strong><\/p>\n

Housing inventories are ultra-low. Any home viewed as \u201cperfect\u201d will have many buyers lined up, thus likely instigating a bidding war. Buyers may need to be willing to accept some cosmetic changes or a home farther from their preferred destination, realtor.com\u00ae says.<\/p>\n

Buyers also can\u2019t expect sellers to fix everything after a home inspection. In a seller\u2019s market, many sellers have backup offers, including those buyers who may be willing to waive a home inspection. \u201cExpecting a seller in a competitive market to address every line item [from an inspection report]\u00a0is a delusion that could cost you the house,\u201d realtor.com\u00ae says.<\/p>\n

You can set up a mortgage after you find a home.<\/strong><\/p>\n

Successful house hunting today is done at a quick pace. That means lining up everything for financing before you even look. A mortgage preapproval is critical, agents say.<\/p>\n

\u201cYour first call when even thinking about\u00a0maybe\u00a0purchasing should be your bank,\u201d Haden Riggs, a team leader with Keller Williams in Tyler, Texas, told realtor.com\u00ae. \u201cThey will line everything out and put you in the best position to purchase.\u201d Buyers will be unable to submit a competitive offer without proof of funds.<\/p>\n

You\u2019ll likely pay more than the asking price.<\/strong><\/p>\n

Bidding wars have been driving up prices. Even as some signs of cooling appear in the market, buyers in today\u2019s market are less likely to pay less than the asking price, and often they\u2019re still paying more. Read more: Where Homes Are Selling for $100K Over Asking<\/a><\/p>\n

If the price of a home looks too good to be true, it probably is. Some seller\u2019s agents are using a bargain basement starting price in the hopes of a bidding war that drives up the price. Buyers will need to be ready with a competitive offer to triumph in buying a home in the current market.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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“6 First-Time Homebuyer Hopes and Dreams That Are Completely Delusional Today<\/a>,\u201d realtor.com\u00ae (Nov. 8, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Unrealistic Expectations of First-Time Home Buyers A first-time home buyer may need to be educated about the realities of the housing market before they fall in love with a home and then quickly lose out to another bid. To prevent heartache, real estate professionals can have frank conversations with their buyers about the realities of … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19636","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nUnrealistic Expectations of First-Time Home Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/unrealistic-expectations-of-first-time-home-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/unrealistic-expectations-of-first-time-home-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/unrealistic-expectations-of-first-time-home-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Unrealistic Expectations of First-Time Home Buyers\",\"datePublished\":\"2021-11-09T13:32:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/unrealistic-expectations-of-first-time-home-buyers\\\/\"},\"wordCount\":421,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/unrealistic-expectations-of-first-time-home-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/unrealistic-expectations-of-first-time-home-buyers\\\/\",\"name\":\"Unrealistic Expectations of First-Time Home Buyers - 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