Each year I like to do a recap of some of the best and more important blogs and articles for home buyers. I think we have a great list this year, so far! Here's our take on the best home buying advice for 2018.
I want all my buyers to be well-informed and that means doing a little research on the best time to buy a house, local affordability, home prices, and interest rates. Here's my take on what people should know this year about buying real estate.
When most of us buy a house we are thinking about the here and now. Which makes sense; we're buying a house for our needs right now, not potential future needs, but, they are something to consider when buying a house now. Before jumping into a real estate transaction on a home that may or may not work for you, here are some things to consider about buying a house for both now and later.
2018 is a great year to buy a house but you better not wait too much longer. Predictions for the 2018 forecast offer moderate gains and home prices and rising inventory levels, which is good for a balanced market, while low unemployment and consumer confidence mean that buyers are not only buying but feeling good about that purchase.
Of course, it all depends on where you live. Some markets are doing better than others but in general, it's a good year to buy, but I wouldn't wait too much longer and here's why.
It's no secret that it's a seller's market and many regions across the US right now and that can make it very hard to find a bargain or an investment property. When many homes are selling near or above list price there is a high demand for properties and inventory may be low. There may be more buyers than there are homes for sale, which naturally puts us into a seller's market. This also means you can't lowball a seller. They simply don't need to take a loss on their property when there are so many buyers and so few homes.
This is why finding a bargain in a seller's market is really any home that you didn't have to pay full price for, but even those are getting hard to find. Here are three tips to finding a bargain in a seller's market.
Now before you all get your panties in a bunch, I have nothing against people that are unmarried buying a house together. I mean, people do it all of the time in joint tenancy, partners, siblings, parents and children, and other people that have no intention of ever getting married. But for this purpose, I am talking about a couple, obviously dating, that are not married yet but plan on buying a house first. This also excludes anyone that is already engaged and planning to be married. If there are no plans to be married and you want to buy a house with someone you were dating, there are some dangers and some pitfalls, aside from the obvious, "what do we do with the house if we break up" situation.
I sometimes feel like the rules or protocol in the real estate industry is a lot like the food industry. One minute something is great for you, the next minute it's bad for you and causes cancer. It can be difficult for homebuyers to understand what they should and shouldn't do or simply what will give them the best results. We tell them to buy quickly to get the best price and the best house, then we tell them to wait and make sure. So what are they to believe?
As a first-time homebuyer, here are the answers to some questions you may have regarding mortgages and what you need to obtain one, courtesy of Andy Deutschle of Concord Mortgage.
What do first-time homebuyers need in order to obtain a mortgage?
Not all real estate agents are created equal and in today's market, it's even more important that agents go the extra mile on behalf of home sellers and buyers. So how can consumers know they're getting a good agent? Well here are six signs of an agent that's not quite putting in 100% of the effort.
Whose court is it in now?
Isn't that the way it seems with real estate transactions? Back and forth, almost like a tennis match. Keep the ball in the air, don't drop the ball, and make sure it's not getting stalled on your side of the court.
But what if you miss the shot?
All real estate transactions are a learning experience, even if we've done it for years. We either win, or we learn what we did wrong and grow from it.
We just bought a house and when we did the inspection everything seemed fine, however, after we moved in realized the prior owner let her dog pee and poop all over the house. It was a disaster and smelled awful. Do we have any recourse?
As a certified Realtor® for the top-rated Columbus Realty Firm - Vision Realty, with 32 years of dedicated real estate experience, I can help buyers, sellers, investors, short sale sellers and more find, sell or invest in the right property, at the right price, at the right time. Contact me anytime for updates and information on the Columbus OH Real Estate market.