Monthly Archives: May 2010

THINKING OF BUYING A HOME SOON? HERE ARE SOME FACTORS YOU SHOULD CONSIDER

1. Although the market seems to be stabilizing some and home prices were down about 2.5% last year the recovery is still expected to take quite some time. You should factor his into your decision to buy.
2. With regard to potential price declines, even though most of today‚Äôs sellers have some difficulty selling at current market value it’s unlikely they will be willing to compensate you for a potential event that may not happen. What you really need to know is that you are not paying too much.
3. The more information you have about the market, in the area you are looking, the better. The market is different in different locations of the country. The big question is, is the market you are looking in healthy. If it is consider yourself in a near normal market and act accordingly.
4. Take a look at the local economy. Are jobs being created or lost? Are public services being cut? The answers to questions like this will tell you a lot about your market.
5. If there is an oversupply of homes in your market you may have a competitive edge.
6. The internet is a great source of information. However, it does not replace of seeing a home that interests you nor does it replace the value of a good real estate agent.
7. The best way to avoid overpaying is to look at enough homes that have the features you are looking for. You can actually become as good (or better in some cases) as the agent you are working with. They need to be up to snuff in all price ranges – which can be a daunting job. You only need to be up to snuff in the price range you are looking in.
8. Create files for flyers and information on homes you look at so you can categorize them. Or better yet get hooked up with an agent that can help you achieve that. Some agents can set you up with your own web site to help you manage your search. GOOD LUCK IN YOUR SEARCH FOR A NEW HOME!!!!!!!!!!!!!!