House hunting (continued)!

This is the next step after being pre-approved (see previous post).

Now that you have talked to a lender and he/she has determined an accurate and comfortable amount of money you can barrow we can start looking for your new home.

During this process it is a good idea to have your real estate agent educate you to the market conditions.
Market conditions:Factors that, at a particular point in time, affect the sale or purchase of a home.

Market conditions will tell you weather there are more homes for sale than there are buyers (buyers market) or if there are more buyers than there are homes for sale (sellers market).

Knowing this should help your expectation level as far as how picky you can be when looking for your new home or how agressive you should be to find your new home.

Currently in Toledo the maket conditions are predominantly a "buyers market". This is to the buyers advantage since it give the buyer more homes to choose from and typicaly forces the seller to compete with a lower listing price.

All you homeowners out there don't let this upset you and discourage you from selling your home.
Even though you might not sell your home for top dollar, remember you will probably be able to buy your next home for less too.

More house hunting tips later