Difference between revisions of "Wondering How To Make Your Real Estate Rock Read This"

Latest revision as of 15:26, 6 September 2016

Ladies and gentlemen: This is simply not your mother or father's property market! While there are a few similarities to past markets, the combination of politics, economics, finance, uncertainty, world affairs/events, interest rates, and insufficient predictability, have formed a somewhat-uneasy alliance, which, when understood and considered, have little ultimate impact, yet, all-too-often, create a confluence of somewhat undesirable circumstances, which create stumbling blocks, obstacles, and obstructions. Perhaps significantly more than ever, who you choose, and why, to represent your interests, as your Real Estate Professional, includes a major impact, in achieving the most desirable goals. Before you select this interview, carefully consider your objectives and goals, in a sensible, non-emotional manner. As opposed to merely saying you wish to get the best price, or some pie-in-the-sky number, ask yourself, what you could be willing to pay, to get your property! Your agent should offer you Comparables, or what similar houses, in your market, have recently sold for. This is the better indication of suggested listing prices, but remember that each house is different, and slight differences often overly impact what a buyer is welling to cover, or if he's even interested. Let's review 5 major considerations in today's market.

1. Time period interest rates have been at, or near historic lows: Going back few years, interest rates, and thus mortgages, have been at or near, historic lows. It has permitted people to purchase more house for the same monthly payment, yet the uncertainty continues to exist, concerning just how much longer they will remain so low. Most experts are calling for interest rates to nudge slightly upward within the next several months, but they issue the caveat, this will depend on the entire economic conditions.

2. Historically low ownership rate: As a result of several factors, like the economy, housing costs (especially in certain areas), rental availabilities, the necessary downpayment (which many don't have, or don't desire to commit), and uncertainty, when it comes to the economy, jobs, etc, the percentage of men and women owning their particular home is below it has been doing decades.

3. Low inventory: Partly because of the demographics, with regards to age groups, etc, and somewhat because many homeowners ask themselves where they will move, along with many individuals retiring later, we're witnessing, in lots of regions, a low inventory of homes listed on the market.

4. Willing and able buyers: There seem to be available buyers, in certain regions, but these individuals, are often annoyed by the mix of low inventory, mortgage and downpayment obstacles, uncertainties, etc.

5. Mortgage qualifications: Banks and mortgage companies are constantly tweaking their requirements for accepting buyers for mortgage consideration. In the last several years, in order to qualify for the lowest available rate, one's credit score should be somewhat more than before, along with other debt considerations. While this is often overcome, one must find the right buyer, with sufficient patience, energy and willingness, to overcome potential frustrations, etc.

Understanding the nuances makes one better capable of realistically listing their house for sale. Carefully interview potential real-estate agents, and choose the main one who's best for you personally!

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