How NASCAR Drives Your New Home Purchase (or 5 Tips to Purchase Your Dream Home Now!)

My mentor, Brian Buffini, has a favorite quote from Coach John Wooden: “When opportunity comes, it’s too late to prepare.”

Racecars on a trackBrian likens opportunity to NASCAR. Here’s what he says: “We’re using the analogy of the rolling start from NASCAR. When they have the car wreck everything comes to a screeching halt. They clean up the road, they get everything organized, then they put the pace car out in front and bit by bit warm up the tires, warm up the engine, get the engine revving. Go around the track a couple of times, and then when pace car pulls away, you’re going full speed.”

As interest rates remain low and the economy begins its recovery, we are in that rolling start, and it’s time to rev the engines.

Opportunity is, if not here already, it’s coming. Don’t be too late to prepare. Here’s how you can get ready to sell your house and find your dream home.

  1. Get a pre-approval letter from your lender. Pre-approval shows you are serious about finding your new home. It lets sellers know you are conditionally able to purchase a house, and may help you with your offer. It also narrows your field to what you can afford to look at and may speed up the purchase process.
  2. Get your current house on the market: Especially if you are doing a contingency offer. The market is great, but it’s tight, so you’ll need to be able to move quickly.
  3. Find an experienced REALTOR®: An experienced REALTOR® will know which neighborhoods are trending up or down, and help you get the best possible price on the property you want.
  4. Identify your prospective new home: Check the listings in your price range, make a list and drive by the homes you are interested in. This will help you select your new neighborhood and save you time while touring properties.
  5. Be selective: only look at properties you’ve selected during your drive-bys. As we ramp our economy back up, sellers may be nervous about letting people view their homes. Make sure you’re only looking at properties you’ve pre-selected.

Maybe your house is too big now that the kids have moved on, or maybe you want to live near your grandchildren. Whatever the reason, now’s the time.

Prices are not falling, mortgage interest rates are low, and inventory is moving quickly. If you have been thinking about selling your house and looking for your new dream home, give me a call at 775-309-7979.

And if you are a homeowner, you should definitely listen to Brian’s latest chat with National Association of REALTORS® Chief Economist Dr. Lawrence Yun.  Topics discussed include why home prices are remaining steady, how agents are navigating the process and completing transactions, why real estate provides a hedge against inflation, and why the house is still a valuable asset in high demand.

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