Great Time To Buy In A Slow Real Estate Market
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Bruce Swedal
May 4, 2013, 5:30:02 PM5/4/13
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Please consider this free-reprint article written by:
Bruce Swedal
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Article Title: Great Time To Buy In A Slow Real Estate Market
Author: Bruce Swedal
Word Count: 662
Article URL: http://www.isnare.com/?aid=239252&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=239252
Easy Publish Tool: http://www.isnare.com/html.php?aid=239252
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Most home buyers in a slow real estate market believe that because the market is slow they are in complete control.
A couple things about that statement are true because there are quite a few properties on the market in slow times. Typically there are more properties than there are home buyers. This means it is a rare occurrence for there to be multiple offers on the same property and therefore less competition. Due to the number of homes available exceeding the number of home buyers, sellers will be lowering their asking prices for homes to gain the attention of the available buyers.
A home buyer in a slow market will just not pay more than they need to for a home that is similar to one selling down the street for thousands less. This creates an advantage for home buyers in the marketplace, but there are still some things that home buyers need to be cautious about in a market that strongly favors them.
Just because a particular home has the lowest price does not mean that is the right home to purchase. Home buyers should always take advantage of real estate professionals advice when it comes to property evaluations and make sure to get home inspected for condition by professional home inspectors.
Independent home inspectors will be able to provide home buyers with a overview of the repairs which will be needed in the home to give you an approximate idea of and repair expenses. A quality home inspector should also be able to give you some insight as to any maintenance issues which might come up in the future.
If there is an item which may not be an immediate issue, but will need attention a couple years down the road an inspection should be able to bring this to your attention. A rood that is nearing the end of its lifespan may be all right for now, but in a couple years it will need attention. Knowing about items like this will keep you from overspending on your home.
Renovations can also be costly especially when they are being completed by first time home owners with little experience. There are many things that affect the cost of renovations such as contractor costs, city codes and permits and those unexpected issues that pop up during large renovation projects.
In slow markets a new home owner might want to avoid properties which need major renovations during their home search mainly because it could end up costing them more than the home is worth in the end. It is extremely important to consider any major repair issues and the costs associated with them when you are trying to find the right home.
Even in a buyer�s market there are some risks associated with a home purchase. One of the largest risks is that the home just might continue to decrease in value prior to increasing again.
Another risk is that though the home may not decrease in value, it may not increase either. When the value of a home remains flat is means that the home owner will not gain equity as quickly. There are some cases where a home owner who is not planning on being in a home for several years may want to hold off on purchasing one.
A home buyer also needs to be cautious when financing their home. Though sometimes tempting, buyers should be wary of loans with interest rate adjustments that require refinancing at a later date. The lower payment may not be worth the risk.
Should the market continue to be slow when it comes time to refinance you might not be able to get the appraisal needed for the loan.
Even in slow markets home buyers still need to take all the precautions that this major decision demands.
About The Author: Bruce Swedal is an award winning Denver Realtor. His http://www.bruceswedal.com/ Denver Real Estate website features data and lists related to the Denver Real Estate Market. Obtain free http://www.bruceswedal.com/silver_custom.asp Denver Relocation Information. Bruce is a member of the Denver Colorado National Assoc of Realtors, SMDRA, REBAC with numerous designations.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=239252
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Bruce Swedal
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=239252
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=239252
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Great Time To Buy In A Slow Real Estate Market
Author: Bruce Swedal
Word Count: 662
Article URL: http://www.isnare.com/?aid=239252&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=239252
Easy Publish Tool: http://www.isnare.com/html.php?aid=239252
*********************** ARTICLE START ***********************
Most home buyers in a slow real estate market believe that because the market is slow they are in complete control.
A couple things about that statement are true because there are quite a few properties on the market in slow times. Typically there are more properties than there are home buyers. This means it is a rare occurrence for there to be multiple offers on the same property and therefore less competition. Due to the number of homes available exceeding the number of home buyers, sellers will be lowering their asking prices for homes to gain the attention of the available buyers.
A home buyer in a slow market will just not pay more than they need to for a home that is similar to one selling down the street for thousands less. This creates an advantage for home buyers in the marketplace, but there are still some things that home buyers need to be cautious about in a market that strongly favors them.
Just because a particular home has the lowest price does not mean that is the right home to purchase. Home buyers should always take advantage of real estate professionals advice when it comes to property evaluations and make sure to get home inspected for condition by professional home inspectors.
Independent home inspectors will be able to provide home buyers with a overview of the repairs which will be needed in the home to give you an approximate idea of and repair expenses. A quality home inspector should also be able to give you some insight as to any maintenance issues which might come up in the future.
If there is an item which may not be an immediate issue, but will need attention a couple years down the road an inspection should be able to bring this to your attention. A rood that is nearing the end of its lifespan may be all right for now, but in a couple years it will need attention. Knowing about items like this will keep you from overspending on your home.
Renovations can also be costly especially when they are being completed by first time home owners with little experience. There are many things that affect the cost of renovations such as contractor costs, city codes and permits and those unexpected issues that pop up during large renovation projects.
In slow markets a new home owner might want to avoid properties which need major renovations during their home search mainly because it could end up costing them more than the home is worth in the end. It is extremely important to consider any major repair issues and the costs associated with them when you are trying to find the right home.
Even in a buyer�s market there are some risks associated with a home purchase. One of the largest risks is that the home just might continue to decrease in value prior to increasing again.
Another risk is that though the home may not decrease in value, it may not increase either. When the value of a home remains flat is means that the home owner will not gain equity as quickly. There are some cases where a home owner who is not planning on being in a home for several years may want to hold off on purchasing one.
A home buyer also needs to be cautious when financing their home. Though sometimes tempting, buyers should be wary of loans with interest rate adjustments that require refinancing at a later date. The lower payment may not be worth the risk.
Should the market continue to be slow when it comes time to refinance you might not be able to get the appraisal needed for the loan.
Even in slow markets home buyers still need to take all the precautions that this major decision demands.
About The Author: Bruce Swedal is an award winning Denver Realtor. His http://www.bruceswedal.com/ Denver Real Estate website features data and lists related to the Denver Real Estate Market. Obtain free http://www.bruceswedal.com/silver_custom.asp Denver Relocation Information. Bruce is a member of the Denver Colorado National Assoc of Realtors, SMDRA, REBAC with numerous designations.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=239252
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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