Gilroy Today 2007 07 July/Aug - Page 5

Happy buyers consider all the angles …

Real Estate professionals see it all the time — jittery buyers — bold before they sign on the dotted line but walk-away after an offer is made . The National Association of Realtors reports more than 10 percent of real estate transactions fail and buyer ’ s remorse is often a factor when deals fall through . The consequences of buyer ’ s remorse aren ’ t just emotional , often it has to do with the financial investment . But when a buyer walks away from a transaction after a formal offer is made , they may lose earnest monies or expose themselves to lawsuits .
Homeowners can avoid second-guessing themselves if they are diligent and patient in their search for housing :
1 . Don ’ t jump at the first thing , look at comparative listings .
2 . Consider not only the aesthetics and financing but also length of commute , tolerance for yard work , neighbors , and area amenities .
Other Tips
www . MartaDinsmore . com
1 . Jot down impressions of homes you may consider buying . Make a a list of the pros and cons .
2 . Take the initiative to meet your prospective neighbors .
3 . Hire an interior designer to help you decide if the new place can be adapted to your sense of style .
4 . Visit the shops and stores nearest your prospective new home . Is the drive to the grocery store a little further than what you are currently use to ?

Quick Statistics

GILROY Single Family Homes Condos / Townhomes
Current Inventory
398
33
Median List Price
$ 719,000
$ 469,000
Median Sale Price
$ 688.000
$ 369,000
Average List Price
$ 857,000
$ 474,000
Average Sale Price
$ 807,000
$ 396,000
Average Days on market
121
65
Closed Sales
16
1
30 Year Fixed
6.815 %
0.0 Pts
6.500 %
1.0 Pts
30 Year Jumbo Fixed
6.875 %
0.0 Pts
6.500 %
1.0 Pts
5 / 1 Jumbo ARM 6.500 % 0.0 Pts
Interest Only
6.625 %
0.0 Pts
6.000
1.0 Pts
( June 2007 Data )
JULY / AUGUST 2007 GILROY TODAY 5