Tip #1 Become familiar with the current market value

Buying a home can be one of the most exciting and rewarding experiences of your life. Here are a few tips to help make sure your home buying experience is memorable! Thousands of buyers each year buy a home for much more than it is worth, often letting their emotions influence the buying decision. Be prepared, know what the true market value is for the property and don't let your emotions rule the negotiations. Here are a few things to consider when evaluating the market conditions:

1. Location, Location, Location - Location matters, similar homes in different locations can significantly influence the value of a property.
2. Days on the market - become familiar with the average time a home is for sale in the location you are considering. If the property you are considering is outside of the typical range, investigate why.
3. Consider the age of the home. New homes in old neighborhoods often are less valuable than a comparable older home.
4. Buying the most expensive home in a neighborhood has some financial risks like slower appreciation and a smaller number of potential future buyers when you need to sell.
5. Look at the tools Real Estate Professionals use. Evaluating past sold properties, price range competition metrics, market research reports. Get the real data, not speculation.