Timing Is Everything When It Comes To Buying Homes

The old adage that "timing is everything" especially applies to buying a new home. And trying to be at the right house at the right time and get it for the right price can be tricky. Here are some guidelines to assist you:

  • Turn to the real estate section of your Sunday newspaper. Monitor the market and tract home prices. Expect to spend 90 days watching the real estate market through advertisements. Question and investigate homes that are advertised month after month. Hard-to-sell properties could either be a warning sign or simply overpriced for the value.

  • When a real estate agent provides you with descriptions of homes currently on the market from the Multiple Listing Service (MLS), ask for a list of homes that were on the market within the last six months or year in the same neighborhood. Compare asking prices to actual sales prices for the same type homes.

  • In addition to monitoring housing prices, learn to identify hot, up-and-coming neighborhoods by tracking selling prices from week to week. If one neighborhood experiences price booms while other house prices are sluggish, its' clear which community to invest in. If you're passionate about an upscale area ? and on a budget ? prepare to buy a fixer-upper and invest some money in renovation. Conversely, beware of buying a beautiful home in a marginal area. You may not get your money back when you sell.

  • Keep close watch on the fluctuating mortgage interest rates. Low interest rates are the most inspiring reason to buy property. Watch the rate of United States Treasury Bills. According to Sonny Block, well-known talk show hose and real estate author. T-bills are a sure way of predicting the rise and fall of mortgage rates.

  • Also watch the national Discount Rate, the rate at which banks can borrow money from the government. When the Discount Rate drops, banks pay less for borrowing the money and in turn reduce mortgage rates to the borrower.

Predicting when a market is ripe for home buying is not an exact science ? even for real estate experts. However, by following these simple tips ? and staying on top of real estate trends, sales patterns and interest fluctuations, you are sure to get the best house for your buck.

About The Author

W. Troy Swezey is the author of "TIMING IS EVERYTHING WHEN IT COMES TO BUYING HOMES." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: [email protected]

In The News:

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10,580 crucial for Nifty; real estate, metal and auto stocks in focus: Kotak Securities  Moneycontrol.comApart from real estate and metals, we should also focus on auto companies as they have formed reversal formation on weekly basis.
Vashi real estate agent booked for rape  The HinduThe Vashi police have registered a case against a real estate agent after his 35-year-old live-in partner claimed that he raped her on the pretext of marrying her.
Chicago most popular real estate news from Crain's Chicago Business  Crain's Chicago BusinessA Jones Lang LaSalle mega deal and an Ex-Bear's suburban mansion make the list.
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Real-Estate Industry Blasts ‘Pied-à-Terre’ Tax on High-Value Second Homes  Wall Street JournalThe real-estate industry is launching a frontal assault against a plan in Albany to impose a stiff annual tax on wealthy owners of part-time homes in New York ...
GST rate cut a huge positive for real estate sector, says SP Tulsian  CNBCTV18SP Tulsian said the GST Council's move to reduce tax rates on properties was an excellent decision, and it will bring positive outcomes for the sector in terms of ...
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Evolving Generational Preferences Pushing Real Estate in New Directions  Think RealtyIn a survey of more than 1000 people on homeownership priorities, Porch.com found significant differences among generational preferences.

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