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Equity - Every Home Buyer and Seller Needs It! | Buying Right Begins the Process!
Equity is the most important thing a home buyer or seller can have. Equity is basically your interests in a property after your obligations are deducted.  If you purchased a $100,000 home with 20% down that means your equity is $20,000 dollars.  It is a sad commentary in this current real estate market that most agents and home owners do not heed this!  
A home is something that is a long term plan, not a fix for the short term.  Over the past few years all the fundamentals of home ownership have been thrown out he window and trampled underfoot.  From what I see, buyers overpaid for junk, did not ask any questions, and got themselves into really hot water!  Equity begins by buying right!  When a builder offers you closing costs, upgrades, bonuses for your agent and other major incentives up front...the home is overpriced!  The incentives are meant to hold their price so you will feel guilty to ask for more!  It is a game that most new agents do not understand, because they have never lived through a real esate downturn before!   The best advice that I could give anyone that is considering buying a home in the near future is:
Make ... more

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