If you've never heard of Guaranteed Equity, I'm not surprised. Home buyers can't decide to purchase a home in a market with the greatest inventory, lowest prices, and best mortgage rates in history. The tax rebates only made the home-buying process more confusing and hasn't had any lasting effect. The home buyer needs confidence in their purchase. Confidence that he or she is not overpaying, confidence that the home is in quality condition and confidence that the home's value won't depreciate in the following years. Somebody has to step up to make bold moves in this economy.
Every home purchased through my real estate company comes with a written guarantee of value and quality. If the home does not meet those standards, the buyer is eligible for a full refund of his or her deposit.
Those aren't new ideas. But here is one: I'll guarantee equity if the home is sold within two years from the date of the purchase. That means sellers won't lose money, because if it sells for less than its original value, I'm going to pay the difference.
As a concerned citizen and a businessman, I belive that the only way to get the housing market stable again is to put my money where my mouth is. I hope that this idea will spread and buyers all across the country will feel secure in buying new homes knowing that whether they get laid off or sudden unforeseen medical expenses arise, they will be able to recoup the costs of their new home.
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