Why now a good time to
buy a house.
Interest
rates continue to be low. However, lenders are
tightening up
requirements and have more realistic expectations about people's
abilities to pay ongoing mortgage costs. Appraisals are being
looked at very closely due to realistic lending practices and
it is vital to a
buyer that they offer based on the current market value of the
house. How can a buyer make an informed offer
that will make it through the appraisal? They should ask an
experienced professional real estate agent who has access to the most
recent market data. A buyer's agent will use the same market
data
that the appraiser will use to help the buyer decide what a house is
worth. Only a buyer's agent is able to provide this data to
the
buyer as a listing agent is working for the seller and can not provide
opinion on pricing or value.
There are
some great bargains however house prices can be a bit confusing right
now. There
are a lot
of houses out there that are being offered as short sales.
These
houses are owned by unfortunate people who owe more than the house is
worth. The short sale price asked may still be higher than
market
value. Even sellers who are not in trouble are becoming more realistic
in pricing their houses to sell. This does not mean that they
are
giving houses away however. It is important that the buyer
know
the current market value of the houses they are looking at.
How
can a buyer know the current market value of a house? Again,
they
need to ask a professional. A buyer's agent is the answer.
The
available inventory of houses for sale is increasing. There
are a lot of choices out there for buyers to search through.
It
can be overwhelming to someone who is trying to find the
right house on their own. It is so much easier to
work with
a buyer's agent who can sort through all the available properties for
you and give you the listings for those houses that most closely match
your wants and needs.
Scheduling
and coordinating viewings can take up a lot of time for a buyer who is
going it alone. With a buyer's agent you get one
stop shopping. You can tour several houses listed by various
brokers all in the same trip making better use of the time that you
have available.
Let's face it, you gotta live
somewhere so you might as well be building your wealth instead of
someone else's. The key is to make an informed choice and not reach
above your means.
If you are looking for a house
anywhere in the Greater Hudson Valley of NY I would love to help you.
If you are looking elsewhere I will be happy to find an agent
who can help you where you want to be.
