TIMING IS EVERYTHING WHEN IT COMES TO BUYING HOMES by W Troy Swezey
The old adage that “timing is everything” especially applies to
buying a new home. And trying to be at the right house at the
right time and get it for the right price can be tricky. Here
are some guidelines to assist you:
¡ Turn to the real estate section of your Sunday newspaper.
Monitor the market and tract home prices. Expect to spend 90
days watching the real estate market through advertisements.
Question and investigate homes that are advertised month after
month. Hard-to-sell properties could either be a warning sign
or simply overpriced for the value.
¡ When a real estate agent provides you with descriptions of
homes currently on the market from the Multiple Listing
Service (MLS), ask for a list of homes that were on the
market within the last six months or year in the same
neighborhood. Compare asking prices to actual sales prices
for the same type homes.
¡ In addition to monitoring housing prices, learn to identify
hot, up-and-coming neighborhoods by tracking selling prices
from week to week. If one neighborhood experiences price
booms while other house prices are sluggish, its’ clear which
community to invest in. If you’re passionate about an upscale
area – and on a budget – prepare to buy a fixer-upper and
invest some money in renovation. Conversely, beware of buying
a beautiful home in a marginal area. You may not get your
money back when you sell.
¡ Keep close watch on the fluctuating mortgage interest rates.
Low interest rates are the most inspiring reason to buy
property. Watch the rate of United States Treasury Bills.
According to Sonny Block, well-known talk show hose and real
estate author. T-bills are a sure way of predicting the rise
and fall of mortgage rates.
¡ Also watch the national Discount Rate, the rate at which banks
can borrow money from the government. When the Discount Rate
drops, banks pay less for borrowing the money and in turn
reduce mortgage rates to the borrower.
Predicting when a market is ripe for home buying is not an exact
science – even for real estate experts. However, by following
these simple tips – and staying on top of real estate trends,
sales patterns and interest fluctuations, you are sure to get
the best house for your buck.
-----------------------------------------------------------------
W. Troy Swezey is the author of “TIMING IS EVERYTHING WHEN IT
COMES TO BUYING HOMES." As a Realtor at Century 21 Paul &
Associates, he has helped many individuals with their real estate
needs. Visit his web site to download his free e-book, “REAL
ESTATE SECRETS EXPOSED.” http://www.TroyIsMyRealtor.com or
TroyC21@usa.net
More articles on HOME
Color, Rollers and a Little Bit of Spackling! Ready to Paint Those Kitchen Cabinets?
One Room Apartment to Tuscan Villa - Rules to Make your Decorating a Success
Decorating with Fabric: Ten Fool-proof Secrets to Combining Patterns
Surviving A Living Room John Elway - Patching Drywall for Fun and Sanity!
Exorcising that Purple Passion! Removing Your Old Wallpaper
So You Think You Aren't Creative? Build Your Own Coffee Table to Discover Your Own Artistic Spark!
20 Ways One Person Can Change the World for Under $50 a month
SELLING YOUR HOME IN THE WINTER
A Guide to America's Most Common Home Styles
TIMING IS EVERYTHING WHEN IT COMES TO BUYING HOMES
UNDERSTANDING REAL ESTATE TERMINOLOGY
A GUIDE TO LOW DOWN PAYMENT MORTGAGE PROGRAMS
POWERFUL TIPS FOR SELLING YOUR HOME
ATTENTION TO DETAILS HELPS HOMEOWNERS SELL FAST
159
|
|
|
|
