Real Estate Blog
Friday, March 13 2009
. Seize buying opportunities when they present themselves. Right now,
homes are more favorably priced than they have been in many years.
. Keep up to date on market conditions. For instance, for first-time
buyers, this is the chance of a lifetime: a trifecta of high inventory, lower prices, and historically low mortgage rates, with a new tax credit to boot.
. Take advantage of the various measures the federal government has
taken to spur the housing market. In particular, for our area, note that higher cost homes became more affordable with enactment of the American Recovery and Reinvestment Act. The limit for FHA and conforming loans increased to $729,750.
. It's all about price. Set it right, from the start.
. Try to think long-term, even when it seems counter-intuitive. For
example, if you've been thinking of selling but have been holding out for a higher selling price, think again. You may lose on the sale but make it up on the purchase, by getting a better home at a greatly reduced price. You could even end up with roughly the same monthly payment, thanks to today's low interest rates.
. When choosing a realtor, it is critical to find the expert in your
area, or your home may be doomed to become yet another stale listing.
Orchestrating a successful sale in today's market requires a highly specialized set of skills. Aggressively question candidates about their experience, knowledge, and track record, as well as pricing, marketing, negotiating, and ultimately closing, in light of current challenges.
CopyrightC 2009 by Michael Ardolino