Give Me 15 Minutes I ll Give You The Truth About Real Estate

Ladies and gentlemen: This isn't your mother or father's real estate market! While there are several similarities to past markets, the mixture of politics, economics, finance, uncertainty, world affairs/events, interest rates, and not enough predictability, have formed a somewhat-uneasy alliance, which, when understood and considered, have little ultimate impact, yet, all-too-often, produce a confluence of somewhat undesirable circumstances, which create stumbling blocks, obstacles, and obstructions. Perhaps more than ever, who you decide on, and why, to represent your interests, as your Real Estate Professional, includes a major impact, in attaining the most desirable goals. Before you choose this interview, carefully consider your objectives and goals, in a realistic, non-emotional manner. As opposed to merely saying you want to get the best price, or some pie-in-the-sky number, consider, what you may be willing to pay, to buy your house! Your agent should provide you with 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 exactly what a buyer is welling to pay for, or if he is even interested. Let's review 5 major considerations in today's market.

1. Time frame interest rates have been at, or near historic lows: For the last several years, interest rates, and thus mortgages, have now been at or near, historic lows. This has permitted people to get more house for exactly the same monthly payment, the uncertainty continues to exist, as to how much longer they'll remain so low. Most experts are calling for interest rates to nudge slightly upward within the next couple of months, however they issue the caveat, this will depend on the overall economic conditions.

2. Historically low ownership rate: Due to several factors, like the economy, housing costs (especially using areas), rental availabilities, the mandatory downpayment (which many don't have, or don't need to commit), and uncertainty, in terms of the economy, jobs, etc, the percentage of individuals owning their particular home is less than it has been around decades.

3. Low inventory: Partly because of the demographics, when it comes to age ranges, etc, and somewhat because many homeowners ask themselves where they are likely to move, along with many individuals retiring later, we are witnessing, in many regions, a low inventory of homes listed on the market.

4. Willing and able buyers: There seem to be available buyers, in some regions, but these individuals, tend to be frustrated by the mixture 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 a long period, to be able to qualify for the lowest available rate, one's credit score must certanly be somewhat greater than before, along with other debt considerations. While this is 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 property agents, and choose the one who's best for you!

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