9 Tips to Help This Buying Season
This is the time of year that home sales pick up as relocating families use the “schools out for the summer” to start making their home buying decisions. People want to be settled into their new homes before school starts. In this market with real estate at a historical low, consumers should look for help to navigate the uncertain market. They should ask a Realtor® and an Investor to guide them and consult with them on the best ways to use there money. Here are nine way to help in your buying season.
1. Buyers Market
Regardless of ABOR’s (Austin Board of Realtors) data this month, I would not say that sales will increase dramatically. With unemployment still high and credit harder to get, it is more difficult for home buyers to find themselves in a new home. As the difficultly of finding worthy buyers continues the REO(Bank Owned), Pre-Foreclosures, Foreclosures and HUD’s are still being placed into the MLS for Investors or buyers with good credit to buy. Seeing these kinds of results in the market place will continue to give buyers leverage over sellers. “There is a way to approach this type of market,” says Chadwick Fox with Austin Executive Homes in Austin Texas Real Estate.
2. Use the Tax incentives, Lower rates and Foreclosures
Investors and new home buyers will have a number of reasons to purchase homes this summer. Home values across the nation have sunk to record lows and foreclosures have risen to all-time highs. Mortgage rates are still low plus Barak Obama has stimulated the purchasing power of consumers with an $8000.00 tax Credit for first time home buyers that have not purchased a home in 3 years. These homes must be purchase during the 2009 year to receive the tax advantages. “I understand how to use the incentives and have lists of foreclosures that can be given” says Chadwick Fox with Austin Executive Homes in Austin Texas Real Estate. “I also have lists and can provide web portals to searches”, he say. Just contact him at email@example.com
3. Investors and Secure Jobs
Although there are major incentives to purchase there is still concern about the number of unemployed professionals. In this market people who are looking to invest with there 401K’s or IRA’s and they would be good candidate for taking advantage of the low housing prices and people who have really good job security will find they too can play in this housing slump. “Austin, so far is a great market to buy! I have learned ways to leverage money to purchase homes in this market” says Chadwick Fox of Austin Executive Homes. “People should take a look at my web site www.chadwickfox.net or contact me at firstname.lastname@example.org so I can help them develop strategies that best fit them”.
4. Better credit
Banks and government loans face higher delinquencies so as a result lending standards are tight. Individuals would need a credit FICO score of about 720 or higher and about 3.5% down to take advantage of the low rates. Some markets may require more. To make the house purchasing process more efficient, Chadwick Fox, a Realtor® with Austin Executive Homes in Austin Texas Real Estate, recommends that buyers get pre-qualified. “Before they look at a house we have buyers get pre-qualified and verify what their income is so we know what price point they are really in,” Chadwick Fox says. Buyers have plenty of things going for them in today’s market, he adds, “but if you can’t qualify for a traditional mortgage, there are other ways to purchase such as owner finance.” You can find him at www.chadwickfox.net or www.4greatInvestment.com. Below are links that will help you find Chadwick Fox.
5. Long-term or Investment
In today’s market one should either locate a great deal or purchase and plan to live in it for a while.
Property is decreasing in value. It would seem because of all the large number of foreclosures and the downed economy, property values will continue to decline. “You have to look at purchasing foreclosure or allow the recovery of your costs and to allow the markets to recover around you,” says Chadwick Fox a Realtor® with Austin Executive Homes in Austin, Texas. “If it’s a short term purchase, there is probably no sense in even bothering to buy unless you want an investment property.” He says! you can locate Chadwick Fox at www.GR8Investments.com to find out more information about investment properties
6. Personal versus Investment
Home prices have fallen sharply at the national level, some markets worse than others. Austin, Texas is still a strong market. Before you commit to buying a house, it’s a good idea to determine whether buying is in fact cheaper than Investing in your local market. To learn how to look at which is better, Chadwick Fox suggests, “Take a look at Nouveau Riche’s program. It will explain so many ways to develop buyer’s strategies. An individual can learn Tax Strategies, Buy and Hold Strategies, Buy and Flip Strategies and much more. Consumers can take advantage of this market and profit from it. Then they can send their kids to college or buy that dream home. But they must be willing to educate themselves first”. He Says!
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7. Don’t hold out
Home shoppers who have found a property that meets their requirements and fits their budget should resist the temptation to wait in hope of further price decrease. Remember, there are other buyers out there like investors looking to take advantage of today’s lower prices and attractive mortgage rates. And if you wait too long for the perfect deal, you might miss out on a great one. “Get educated or talk to someone who knows the market and is capable of being creative”, says Chadwick Fox a Realtor® with Austin Executive Homes in Austin, Texas Real Estate.
8. Ask for those concessions
Buyers shouldn’t be shy about using their leverage in this market to get concessions from sellers. Go ahead and lowball the asking price, and see whether the seller will chip in to cover closing costs or a couple of months of fees. Just be careful not to go overboard. Don’t be afraid to ask “is that the best you can do” says Chadwick Fox a Realtor® with Austin Executive Homes in Austin, Texas Real Estate. Try not to be rude “but make sure you ask for the discounts and much more”. He says.
9. Foreclosure, REO and HUD inventory
Although the housing crash has caused a great deal of hardship for many Americans, it has created some tremendous opportunities for Investors and Buyers. And anyone looking to buy property would be out of their mind if they didn’t at least check out the foreclosed, REO, HUD inventories in their local market. “I have links on my web site where searches can be done and videos watched when it comes to buying these properties”, says Chadwick Fox a Realtor® with Austin Executive Homes in Austin, Texas Real Estate. But remember, foreclosed home buying can present legal and technical hassles that are often best handled by an experienced professional. So most foreclosed real estate buyers or investors will be best served by contacting Chadwick Fox at email@example.com or searching his properties here http://www.chadwickfox.net/Austin_TX_homes_for_sale.shtml.
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