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The 5 "DO's" every Buyer should know right now

Reblogger
Real Estate Agent with My Idaho Place Real Estate, Inc.

Well Jeff, Iwas just going to make a comment on your enthusiastic post, when I decided that it would be better to reblog it!  Great one!

Original content by Jeff Martel

The five “Do’s” every Buyer should know right now:

  1. Do buy in 2009... or you will definitely whine! What I mean by this is that there has not been a buying opportunity like the one in DECADES. NAR's Housing Affordability Index rose 13.6 percentage points in January to 166.8, a new record high. Houses are ON SALE NOW!
  2. Do understand that the Government will Stimulate things... Lot’s of things. Governments think they can “buy” their way to prosperity... And to some degree they can “jump-start” things. But Government action by increasing money supply (or as they like to call it stimulus) has a tiny little after-effect – INFLATION. So, when the government says “ooppps” we printed to much money and this little inflation thingy isn’t looking too good – they increase INTEREST RATES. Currently interest rates are so low – the last time they were this low Leave It To Beaver was still running “new” shows... Not the reruns we’ve all become accustomed to!
  3. Do understand what VALUE means. Don’t confuse value with cheap. Right now it’s very easy to be price focused – and yes you should be – but Buyers MUST look for value in a home purchase. A cheap home is just that – cheap... And they tend to remain that way. A home that has true VALUE can be purchased today at a great price that will ensure a good equity return in the future.
  4. Do make a choice to not believe the electronic Cyclops in your living room. The media only can report on what has happened. They use fancy charts and graphs. They have neat touch-screens and experts that went to really, really good schools. But, at the end of the day they are reporting to you on a time lag of at minimum 60 days and more likely 6 months. The only true way to know what a market is doing is to talk to a Realtor or a Title Agent. Why? BECAUSE THEY ARE ON THE FRONT LINES. Realtors and Title Companies know about transaction volume before all others – and trust me – transaction volume is up – deals are being made. By the time the media reports that transaction volume is up for 3 months in a row... They are at least 5 months behind on calling the bottom.
  5. Do buy a home for the right reasons. Homes are for you and your friends and family to gather in and to enjoy life in. Your home is not a reality show. Your home is not a bank. Your home is where memories are made, first steps are taken, and life is lived... That’s it. Pretty simple stuff – but we ALL forgot what a home truly is. A home is your connection to community, to family, and to friends. Buy a home in 2009 for all the right reasons and then we all will be better off in the long run!

 

 

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A New Direction In Real Estate
Jeff Martel | Broker / Marketing Director
7400 West State Street, Boise Idaho  83714
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