Buyers: It's Time To Get Started
It appears to me that the stars are once again coming into alignment.
Why? Well, it looks like some positive things are happening on the property insurance front that will make insuring a new home a bit more affordable.
The property tax star seems to be moving into alignment with the insurance star -- the legislature is talking about bringing down property taxes and they probably will have something for voters within this current session, so by late spring this matter might be squared off.
Mortgage rates are steady and show no real signs of going up, and if they do move up it probably won't be very far.
And the final star, property prices, looks good too as sellers seem very willing to negotiate prices and grant other concessions to buyers.
I don't know about you, but if I was a buyer these are the kind of signs I'd be looking for. So, if I was in the market for a new home or investment property, I think I would start doing the following things ...
1. Go see a reliable mortgage broker. Before you start your "house hunt", you should know how much house you can afford to buy and what kind of monthly payments you can comfortably afford. There's no reason to go looking at million dollar homes if you have a $200-thousand dollar budget.
2. Jump on the internet. There are loads of sites where you can do some preliminary house hunting, see what your money will buy, and just get a feel for what's on the market.
3. Drive the neighborhoods. Once you know how much home you can afford to buy, drive the neighborhoods in which homes in your price range can generally be found. See how you like them. Select the neighborhoods you like and eliminate the neighborhoods you don't. If you're looking for a condo, visit the community and talk to any of the owners who happen to be outside.
4. Find a good real estate agent. Now is the time to go see a real estate agent. Tell the agent exactly what you are looking for, what the house absolutely must have, where you want to live, and show them some of the internet listings that you think look interesting. Make sure your agent has a copy of your pre-qualification letter from the mortgage company; this will help the agent negotiate better on your behalf since the seller will know you are a serious, qualified buyer.
5. Make only serious offers. Sellers may be highly motivated to sell right now, but nobody's going to let you steal their property. Make legitimate offers and make reasonable requests for closing terms. Getting an offer rejected is a waste of time for everybody involved.
I think the time to get started is right now. Real estate agents I talk to all say buyer activity is picking up, which means offers and contracts can't be far behind. If you snooze, you loose.
For more information on real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.
Why? Well, it looks like some positive things are happening on the property insurance front that will make insuring a new home a bit more affordable.
The property tax star seems to be moving into alignment with the insurance star -- the legislature is talking about bringing down property taxes and they probably will have something for voters within this current session, so by late spring this matter might be squared off.
Mortgage rates are steady and show no real signs of going up, and if they do move up it probably won't be very far.
And the final star, property prices, looks good too as sellers seem very willing to negotiate prices and grant other concessions to buyers.
I don't know about you, but if I was a buyer these are the kind of signs I'd be looking for. So, if I was in the market for a new home or investment property, I think I would start doing the following things ...
1. Go see a reliable mortgage broker. Before you start your "house hunt", you should know how much house you can afford to buy and what kind of monthly payments you can comfortably afford. There's no reason to go looking at million dollar homes if you have a $200-thousand dollar budget.
2. Jump on the internet. There are loads of sites where you can do some preliminary house hunting, see what your money will buy, and just get a feel for what's on the market.
3. Drive the neighborhoods. Once you know how much home you can afford to buy, drive the neighborhoods in which homes in your price range can generally be found. See how you like them. Select the neighborhoods you like and eliminate the neighborhoods you don't. If you're looking for a condo, visit the community and talk to any of the owners who happen to be outside.
4. Find a good real estate agent. Now is the time to go see a real estate agent. Tell the agent exactly what you are looking for, what the house absolutely must have, where you want to live, and show them some of the internet listings that you think look interesting. Make sure your agent has a copy of your pre-qualification letter from the mortgage company; this will help the agent negotiate better on your behalf since the seller will know you are a serious, qualified buyer.
5. Make only serious offers. Sellers may be highly motivated to sell right now, but nobody's going to let you steal their property. Make legitimate offers and make reasonable requests for closing terms. Getting an offer rejected is a waste of time for everybody involved.
I think the time to get started is right now. Real estate agents I talk to all say buyer activity is picking up, which means offers and contracts can't be far behind. If you snooze, you loose.
For more information on real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.
-30-
posted by Terry Ward at 4:35 AM
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