Here Are 5 Tips For Renters

By
Real Estate Agent with Elite Home Sales Team OC BRE# 02066030

Here Are 5 Tips For Renters

If you are a renter and you were one of the folks that got crushed in the mortgage meltdown. You went through a short sale or foreclosure. You probably can get back into the market. Or if you are a renter and you have not decided to purchas a home or condo lets talk.

Here are 5 tips for renters to become a buyer of a home:

  • Check with a Realtor and find out the amount you will need to purchase a home. Some can get a one half percent down payment of the value of the home purchase price. ($900 -$3000) depending on the home value. If you do not qualify for that it could be 3.5% to purchase.
  • Look at properties with a Realtor in person. The agent will get you into properties you qualify for and help you to actually evaluate the property. If you look on line you are purchasing based on the photographer's skill.
  • In a lot of the cases it is cheeper to buy than it is to rent. Low down payments and low prices make it easier to purchase today than in the last 3 years. Most renters have not looked to see what they can do for themselves.
  • If you have never owned a home you are not aware of the tax write off on your income taxes. It is substantial. Think of this you can own a home and pay (in most cases) less than rent and get a tax break in addition.
  • Our current market conditions exists only a few times in a life time, low value of home and low interest rates. With the current conditions some are woried they may pay to much for their new purchase. We have shown in other blogs that for the past 3 months we have been increasing in the number of sales. The increases in home value normally follows. More importantly the speed of increase in interest rates going up is substantial. If you wait and interest rates go up smaller cheeper homes will cost more per month.

Remters this is you time to own a home lets go shopping.

close

Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Charles Stallions 03/03/2012 01:20 PM
  2. Charles Stallions Property Manager 03/17/2012 02:56 PM
Topic:
Home Buying
Location:
California Orange County Mission Viejo
Groups:
Everything California
Southern California Real Estate Forum
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Rainmaker
507,032
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Mark, agreed that in many cases it is cheaper to buy than to rent. Good advice for folks to consider. I am also realizing how important having representation is to a renter, but very few actually do.

Cal

Feb 09, 2012 10:30 PM #8
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Karen

I think the pent-up desire is there now.

Feb 10, 2012 02:41 AM #9
Rainer
206,584
Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Mark, Great presentation for converting renters to buyers. 

 

Feb 10, 2012 02:41 AM #10
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Cal

It is a matter of getting the word out.

Feb 10, 2012 02:42 AM #11
Rainmaker
1,004,473
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Mark:  There are many, many markets throughout the country where that pent-up demand is being catered to.  In many areas there is a shortage of homes to rent, and homes to purchase.  Other areas... unfortunately, are flooded with them.

Feb 10, 2012 03:35 AM #12
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I know all real estate is local and what we are beginning to see in Orange County is dramatic.  I hope it continues.

Feb 10, 2012 03:47 AM #13
Rainmaker
824,837
Sheila Newton Team Anderson & Greenville SC
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
Selling the Upstate since 1989

these are some wonderful tips!!!  It is a wonderful time to buy!

Feb 10, 2012 01:56 PM #14
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Sheila

It is a great time to buy.

Feb 11, 2012 03:16 AM #15
Rainer
22,722
Jeff Andresen
Buffett Hathaway Real Estate - Highlands, NC
Jeff Andresen

Mark,

Thanks for your recent compliment on my blog picture. It led me to your blog, which I think is great. I've directed one of my clients to your advise on becoming a buyer. Love your area! Was there last year or at least close. Had lunch at Las Brisas overlooking Laguna. Amazing view. Good luck with everything. If you ever get this way drop in.

 

Jeff Andresen

www.jeff.cashiershomesearch.com

Feb 11, 2012 08:49 AM #16
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

You are welcom Jeff glad the blog helped.

Feb 11, 2012 12:30 PM #17
Rainmaker
1,036,503
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Mark - each day we are seeing more positive news coming from the main stream press about real estate recovery happening in areas across the continent ..... A sure sign that renters should be considering purchasing now.

Feb 13, 2012 06:00 AM #18
Rainmaker
1,004,473
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Kathy:  Yes... I see more signs of positive news.  But... if the main stream press would only trumpet that good news like they blasted any sign of bad news all over the airwaves... it would help.  Bad news sells in their ratings, but good news sells houses, and helps the economy.

Feb 13, 2012 07:08 AM #19
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Kathy

We are seeing that very thing here is South Orange County.

Feb 13, 2012 12:13 PM #20
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Karen

It is hard for the mainstream press to give bad news it sells.

Feb 13, 2012 12:14 PM #21
Rainmaker
917,776
Ann Hayden
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Mark,

Great ideas for renters!

Ann Hayden in Wildwood, MO

Feb 15, 2012 08:48 AM #22
Rainmaker
3,333,179
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Mark -- haven't you noticed that there are many who are credit worthy and/or flush with cash whot are preferring to rent right now?   With some incredible values and historically low mortgage rates, real estate seems to be a lot safer place for investments as well as personal satisfaction than some other options.   Hmm, of course, maybe I'm just a bit biased.   

Feb 20, 2012 03:48 AM #23
Rainmaker
2,373,540
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Great post, I have buyers that just don't want to do their own repairs nor keep up their house up.

Feb 28, 2012 09:17 PM #24
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Thank you Ann

Feb 28, 2012 11:43 PM #25
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Michael

There are many that believe that now is not the time to buy.  They believe the market will sink even more.

Feb 28, 2012 11:45 PM #26
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I see Charles what you are saying.

Feb 28, 2012 11:46 PM #27
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