Punxsutawney Phil might have predicted 6 more weeks of Winter, but if what we’ve seen from the housing market the past couple of months, all indicators point to an early Spring. The past two weeks alone, we’ve seen a spike in folks wanting to sell their mobile and manufactured home’s as well, as many more people tired of renting and ready to own. Why? Could be a number of factors. Increasing rents, trust in the housing market, banks opening up more lending, all of the above. I’m not smart enough to give you a detailed analytical breakdown of the housing market, but what I can do is give you my observations as a Manufactured Home Dealer and Real Estate Solutions Provider. Here are some things to keep in mind when selling or buying a Manufactured Home or Traditional Home.
- Be sure to do your research. Whether you’re buying or selling, it’s important to do your own research. Yes, if you’re being represented by a dealer or realtor, they should most of the basic stuff like, show you home sale comps, put together all the necessary paperwork, present offers, etc. It’s up to you however, to do your own research. What area do you have in mind? What’s your price range? Will your home pass a buyers inspection and appraisal? Do some homework and ask questions.
- Be Honest With Yourself! It can be very frustrating for both buyers and sellers when what they expect to happen doesn’t happen. Sounds obvious, but it’s important to be honest with yourself before you decide to move forward. Is your house worth what YOU think it’s worth? Markets, Realtors and other Real Estate or Manufactured Home Professionals can give you an estimate of what houses in your area are selling for, but what they don’t show you, is what the other homes that have that your home doesn’t, and/or vice versa. Is your credit good enough to get the best interest rate possible on a home loan? These are just are just a couple of questions I like to ask my clients before we help them with a purchase or sale of a home.
- Fear Is Common. Whenever you’re making a big life changing decision, there’s always some hesitation or fear, purchasing a traditional or Manufactured Home is no exception. If you’ve done both steps 1 and 2, fear will just be your emotional response to change, in other words, “the only thing you have to fear is fear itself.” Don’t let fear paralyze your decision making. Again, if you’ve done your research and been honest with yourself, fear will limited if not completely eliminated.
- Embrace The Game. Here’s something that not a lot of people will tell you about Real Estate. It’s simply a game. Putting in offers, Counter-Offering, Inspection Reports, Appraisals, Open Houses, Price Reduced, Sale Pending. Those are common phrases we hear when we dive into the Real Estate and Manufactured Home world, much like Off-Side’s, Pass Interference, Touchdown are common phrases in football. If you can understand the terms and the rules of the game, playing the game makes it that much easier. This is the same with both football and Real Estate and Manufactured Home . That’s why it’s important that you gather the best possible team when selling or buying a traditional or Manufactured Home.
- Build Your Team! If you don’t know the rules of the game, build a team that does. A home professional that has your best interest in mind. A mortgage broker who is honest with you, and explains what you have now, and/or what you may need. Ask a neighbor or a friend who recently sold or bought a traditional or Manufactured Home to get their perspective. Ask a friend, co-worker, or family member to go to Open Houses with you, this will help you get an idea of what you want or don’t want with your home, whether your selling or buying.
I’m confident that if you follow these steps, your home selling or purchasing will be less stressful and will help you make the best decision.