Thinking about buying a house? Where do I start?

Most weekends, I hold open houses across the Westside, and many people come through browsing to get a feel for what their money can buy. More often than not, many people walk into a place that is not suited to their needs, and end up spinning their wheels and only see a "good" place now and then. This is where the real estate agent comes in and makes life easier.

When you start thinking about buying, do your research and use a realtor to learn the state of the market. Have prices been increasing, decreasing, or steady? Should I wait or buy now? Your realtor can help you answer these questions.

Now you have made the decision that you want to start looking for a place to buy. THE VERY FIRST THING YOU SHOULD DO IS TALK TO A LENDER AND GET PRE-APPROVED!!!! Why?

• For one, you need to know how much you can afford to buy. Many people think they know what they can afford. Unfortunately, if you can't get approved for that price point, then you are out of luck when you want to buy that pricey home. Your realtor uses your pre-approval to streamline the search and only focus on properties within your price range.

• When you find the property you want to buy, you have a designated period of time to prove to the seller that a lender has pre-approved you for a loan that can cover the price. If you can submit proof that you have pre-approval with an offer, it makes for a stronger offer. Some buyers take offense to their realtor requesting the client to obtain a pre-approval before taking them to see properties. I believe my clients, but the sellers don't believe anything until they see it in writing, and the sellers are the people who need to be convinced!

Now that you have the pre-approval out of the way, you consult with your realtor and tell him or her the location and type of property you want to be living in. LET YOUR REALTOR DO THE WORK FOR YOU!!!! Your realtor should be previewing properties to narrow down the search, and should only be taking you to properties that come close to your likes. Otherwise, what is the point of having a realtor?!?! Also, let your realtor know if he or she is on target with the places you are seeing. It is ok to communicate your reactions with your realtor so that they can do a better job next time. Eventually, you and your realtor locate the right property, and you then write an offer to purchase the house. This is where the fun begins, and I will save the escrow process for another blog entry.

Happy house hunting!