Predict the Future While Buying a Home

Larry Doss Wednesday, January 13, 2010

Whether you are a seller or a buyer in the real estate transactions, you must always thing in the long term of the real estate market. There are several factors that can influence tomorrow’s market and you must be prepared for both ups and downs. To sell your home for a profitable price, you must ensure that your house in good condition. This is because, buyers usually look for homes in to which they can move in immediately without having to get many things repaired. However, if you are relocating, then you must decide whether you wish to sell your current home and buy a new home in the new location or you can also let out your current home for sale. It is advisable to rent it when you have the hope of returning to your origin town some years down the lane. If you rent your home, then it is always better to set aside a fund for improving your home conditions after the tenants leave.

If you are buying a home, you are a greater advantage today, as home prices are much lower than what it was several years ago. With many grants and loan programs from the government and private lenders, buying a home has been made much simpler. In this day, a fixed rate mortgage with a loan period of 30 years is available for 6 percent. The interests will rise if inflation hits the economy! Hence if you buy a home with a short- term fixed –rate mortgage, then it will be ideal to refinance your home before the interest rates shoot up.

Many buyers are under the impression that prices will drop further before they even out on their finances. This leads to the speculation that a condo or a home they wanted to buy may cost much less in six months time. But the real estate market is not very predictable. There are all possibilities that homes can cost much more in a few years. In the marked that cannot be timed, only a few people get lucky when they buy either before market crisis or after the market stabilization. But if you are among the ones who are buying after the market stabilizes then you may have to compete with many buyers who are ready to pay more!

Hence it is advisable not to buy a home unless you are sure to move in immediately. There are many compromises involved in buying a home. Always remember; when you buy a home, buy it for a long term!!

For additional resources and information please visit the following sites.

Resource Links:
Bill Fields All Star Coaching Program:
GreatWest GMAC Search all MLS Listings:
GreatWest GMAC Consumer Buyer/Seller Blog:
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog:
Brodie Stephens (Executive Vice President) One Stop Blog:
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings:
GreatWest Videos:
Facebook Brodie Stephens Profile Page:
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MySpace Brodie Stephens Blog:
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GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us:
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Based on information from the Humboldt Association of REALTORS®, as of 04/24/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be verified by broker or MLS for accuracy. All information should be independently reviewed and verified of accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright ©2024 Humboldt Association of Realtors®. All rights reserved.