Buying a Downtown San Diego: Can you do it on your own?

You know you are smart.  You know you want to buy a condo in Downtown San Diego.  Can you do it yourself? 

Of course you can.  However, can you do it better with the help of a Downtown San Diego real estate agent?  Do you know the history of the buildings?  Do you know Downtown San Diego Districts such as Gaslamp, Marina, Little Italy, etc? 

An even more important question, or perhaps the two most important questions are "What is the owner occupancy in the building I like?" and "What buildings in Downtown San Diego have litigation?"

The answers to these two questions will determine if you can buy and finance a Downtown San Diego condo.  Lenders today want high owner occupancy and do not want buildings in litigation.  You might spend a lot of time viewing available condos; calling listing agents to view a unit; write an offer;  have the offer accepted; and then find out the owner occupancy is too low or the building is in litigation and has been taken off the acceptable list for many lenders.

Statistics show that the majority of both homebuyers and homesellers want a real estate agent to represent them.  Here are a few stats from NAR’s 2010 Profile of Home Buyers and Sellers:

▪ The typical home buyer will search for homes for 12 weeks and view 12 different homes or condos during the homebuying process.

▪ 83 percent of buyers purchased a home or condo through a real estate agent.

▪ 48 percent of buyers found their agent through friend or family member.

▪ The typical sellers lived in their homes for 8 years.

▪ 88 percent of sellers were assisted by an agent with their transaction.

▪ Homes sold through a real estate agent sold for 96 percent of the list price.

▪ 57 percent of sellers reduced the asking price at least once while their home was listed.

▪ The typical home is on the market for eight weeks.  This statistic may be a little longer in today's current market, although we are seeing well priced properties sell quickly.

▪ 86 percent of sellers surveyed were somewhat satisfied with their agent.

▪ 41 percent of sellers found the listing agent through a friend, family member, or coworker.

▪ 83 percent of consumers would definitely use their agent again.

The proof is in the pudding as my grandmother used to say.  If you use a mechanic to fix your car; a plumber to unplug your toilet; someone from the Geek Squad to fix your computer, doesn't it make sense to have your own real estate agent to represent you in your property search?  Representation by your own agent does not cost you a penny, nickel or dime under most circumstances.  If you are thinking about buying a Downtown San Diego condo that is going to cost you several hundred thousand dollars, don't you think someone should be looking out for you?

So the answer to the question is yes you can represent yourself in the purchase of a Downtown San Diego condo, or any other San Diego real estate for that matter.  However, just because you can doesn't mean you should.

We sell what you want to buy.  this is a series of article from Sharyn and Victoria Crown, Downtown San Diego real estate agents.  Visit our Search Downtown San Diego condos site.  Yes, we know.  The photo is not of Downtown San Diego but it looks good for this article.