Best and worst builders/agents (Austin: real estate, mortgage, loan)

[plwitt]

I've lived in Austin since 1982 but now find myself looking to buy a home for the first time in many years. There are lots of builders out there and I'm not sure who to go with but I definitely want to go with a quality built home in a good neighborhood that is also not going to break the bank. Also, on another thread I've seen how important it is to find a good, experienced real estate agent. How do you find one that can show you which neighborhoods would be a good match for you regarding safety and investment potential? Most of my friends bought their homes in the 80s and don't have recent experience with either. I'm a single parent, with a college-aged child going to ACC/TSU right now, so would also like something "in district" so we wouldn't have to pay the higher tuition rate. I guess I'm somewhat of a challenge but I really need to learn more before I go out and make some huge mistake that I would regret later. I've lived mostly in the NW Austin area, so know virtually nothing about other areas of Austin, well, except the west side and I couldn't afford anything over there. I work at various hospitals in the area so access to highways or toll roads is good also.
Thanks ahead to any of your suggestions.

[austin-steve]

One way to approach this is to ask yourself "what would cause a really great agent to want to help me, versus one who is simply willing to donate their time?

The answer is:
1) Be pre-qualified for your loan, with letter in hand. Know what you can afford.

2) Have a clear picture of what you want and be able to articulate it. You'll have to give up something you want, will it be price?, condition/age?, or location? Those are the big three. Know which one is non-negotiable. For you, sounds like location and access to roadways is important.

3) Be willing to make an offer when the right home comes along. Will you become a home buyer or just another looker who suffers from analysis paralysis and looks at homes for more than a year without ever buying? A good agent will help you get over that hump without being pushy.

A good agent will decline to help you if you don't have the above straightened out. A less able agent will drive you all over town whether you have any of the above worked out or not, thus wasting your time and theirs, and accomplishing nothing.

Interview some buyer agents without volunteering any of the above (assuming you're there already) and you'll notice that the good ones work those items into the conversation to determine if you're ready to be helped. The dingy agents don't even pre-qualify you or offer to help you become ready. Talk to at least three buyer agents who are active (sold at least 6 homes the past year) in the areas in which you want to buy.


I hope that helps.
Steve

[plwitt]

Thanks so much Steve. I've already been prequalified with a mortgage company and have just been looking around Austin. I was using a realtor who would email me places that were not desireable for me, not really listening to what I had in mind. That's why, out of frustration I posted on this site. Think I have finally researched enough to know the zip codes I don't want to live in... 01, 02, 04, 21, 22, 24, 41, 44, 45, 53 and 58. Of course that's seems to be where most of the listings are these days unless I want to spend a lot more money. I've also been watching the forums talking about experiences with new homes and areas not doing well. I'm wondering if I should just wait a few more months?

[austin-steve]

I'm wondering if I should just wait a few more months?

What would you gain by waiting a few months?

[TexasHorseLady]

By the way, you'll want a pre-approved letter, not a prequalified letter.

You say you know where you don't want to live. But what do you want in the way of a home? What are your goals in moving?

Write those down and then prioritize them. Have a list of "must haves" and a list of "would be nice", and categorize both of those lists, as well.

This will help you avoid what Steve so aptly calls analysis paralysis. Do the analysis ahead of time, so that when you're shopping, that's one less thing you have to do on the spot when you're possibly under pressure to make a decision.

And, yes, what would you gain by waiting a few months? That's a serious question that deserves examination.

[jimmyjack]

If you've got no call to move, I would hang tight for a while. Things might get real ugly around here if this inflation keeps moving upwards the way it looks like it's going to.