Buying or selling a home in today’s market means being up on market pricing and trends. As noone has yet determined whether we’re at the bottom of the market, still heading down or on the way back up, it’s critical to keep up with market conditions in your area, pricing and financing options. The best way to guage the market is to take a look at the amount of inventory of available homes currently on the market and at what’s selling. After a few weeks of reviewing inventory and sales data you may quickly determine which homes are likely to sell and which are likely to sit on the market for an extended time.
In a buyer’s market, price is generally king. This seems obvious, but what many sellers may not yet understand is that pricing a home and hoping for an offer isn’t the right strategy for a quick sale. The belief that you can ‘always come down later’ will undoubtedly leave you ‘coming down later’ – again and again. On the other hand, houses that are priced at or just below market value are seeing quicker sales. With so many houses for sale buyers aren’t taking the time to look at homes that are overpriced.
Again, the key to a successful purchase or sale in this market is to be on top of the market. Check the local paper for property transfers, get on an email update froma local broker on new and competing properties for sale and be prepared to buy or sell for a price that’s in line with what similar homes in your area are selling for without regard to whether the pundits think the market is headed up or down.
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Posted in Real Estate, buy a home, buying a home, sell a home, sell home, sell house, sell my home online, sell your home, sell your house, selling a home, selling a home by owner, selling by owner
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Home buyers have gotten a real boost from the government, but you better get started soon. The tax credit of $7,500 for ‘first-time home buyers’ ends July 1, 2009. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For the purposes of the tax credit, the purchase date is the date when closing occurs, so it’s important to find the right home at least 60-90 days in advance to ensure that you meet the deadline. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. The tax credit works like an interest-free loan and must be repaid over a 15-year period.
Partial credits of less than $7,500 are available for some taxpayers whose income exceeds the limits. The credit becomes totally unavailable for individual taxpayers with a modified adjusted gross income of more than $95,000 and for married taxpayers filing joint returns with an AGI of more than $170,000. The credit is refundable meaning that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
For more information about the home buying tax credit for first time home buyers visit the National Association of Home Builders website for ‘First Time Home Buyers’ or visit the IRS website ‘Tax Credit to Aid First Time Home Buyers’
Many people can’t wait to get out on their own and buy a home. Maybe it’s because, to them, home ownership is a sign that they’ve made it. Or maybe it’s because they feel that, rather than paying high rents, it would be better to have that money going into a place of their own – to be an investment.
Whatever your motivations, if you think you are ready to buy a home, there are a few steps that you can take to ensure that buying a home will be a smooth process.
The first step to take before you buy a home – as before you do most anything – is to make a plan; your plan should include the whys of buying a home (what it means to you) and your goals for home ownership as well as an idea of what you’re looking for in a home.
The next step is to choose someone who can help you through the process. It used to be that you would hire a buyer’s agent, now however, you also can choose to hire a real estate broker that will allow you to collect a rebate of the buyer’s agent’s commission, someone who will help you when you need help but who won’t take care of minor details.
Once you know what you’re looking for and have someone on your side, it’s important to get a pre-approval letter for a mortgage so that when you find a home that interests you, you’ll know whether or not it is a home that you can afford to buy.
Once you’ve found the home that is right for you, you’ll need to schedule an inspection and complete the closing and then all that’s left is moving in. Is it really that simple to buy a home? It can be – when you’re prepared and when you work with the right real estate company.
Flat Fee Realty
Think you’re ready to buy a home? Visit IHS Realty for tips and tools than can help you to be sure.
Internet Home Services Real Estate Blog
There are plenty of expenses that come up when you buy a home, but with IHS Realty there are also ways to save.
If you’re looking to save when you buy a home, work with IHS Realty to find a home on your own and qualify for sizable rebats at the time of your closing.
Or, if you want to use a buyer’s agent, work with one from IHS Realty – you’ll still save and have the help that you need to work through the home buying process.
With IHS, it’s easy to save when you buy a home.
IHS Realty
Save when you buy a home with IHS Realty.
Internet Home Services Real Estate Blog
If you are planning to buy a home but haven’t really started to look into properties, now is the time to look into IHS Realty.
You’ll be able to learn a great deal about how to buy a home with this flat fee broker, and you’ll be able to see for yourself how easy it is to find the right property within their listings.
Simply enter information about the area in which you’d like to buy – the state, the city and state or even a specific street in a city and state. If you just want to see all of the properties available, click submit at this point. Or, if you’ve got something more specific in mind, enter a price range as well; click submit and see what’s available.
IHS Realty
Search IHS Realty properties if you’re planning to buy a home.
Internet Home Services Real Estate Blog
When the time comes to buy a home – whether you will buy your first home or you will be moving into a larger or smaller home – there are a number of points to consider:
- Cost: How much house can you afford and how much money do you have on-hand for a down payment?
- Condition: How much work does the home need?
- Location: What’s the neighborhood like? Is the home near your workplace? Is it in a school district that’s great for your kids?
- Space – both inside and outside: How much room do you need for you and your family?
- Safety: How secure will the home be in a natural disaster? What’s the crime rate like in the area?
Once you have a sense of what you are looking for, IHS Realty can help you to find it – and save you money in the process.
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Get Answers to Your Questions about Buying a Home with IHS Realty
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It could also be an equally good time to sell
"Anyone buying a home and plans to stay there four or five years is just fine. A house is not a day-trading asset," said Leslie Appleton-Young in a forecast made to about 500 real estate agents and industry representatives last week at the JW Marriott Desert Springs Resort and Spa. The annual forecast event is sponsored by the California Desert Association of Realtors.
Now may be the best time to buy. If the market corrects itself then turns and heads south again, many people looking to buy real estate will be left out in the cold. You could see the market making its first correction. The next one very well could be the second leg of a downward trend - the longest leg in most technical analysis indicators.
While buyers can do well in this market, sellers can also do well. Whether you are buying or selling real estate, don’t go into transaction blind.
See Also
Flat fee home buying never has been better
Situated on a lovely tree-lined street, this three bedroom and den townhouse is ideally located within walking distance to Washington Square, historical Society Hill and South Street shopping/restaurants. This home features a gated off-street parking spot, stairway access to the roofdeck with spectacular views, hardwood floors and newer windows throughout. The front entrance leads to an open living room with hardwood floors, built-in shelving, cabinets and working fireplace. A backdoor takes you to the patio and PARKING area. The dining room and the kitchen with modern amenities (newer stainless steel gas range and dishwasher) are located in the lower level of the home along with the pantry area and laundry room. The second floor features the master bedroom with ample closet space, master bathroom and walkthrough den/office. The third floor includes a full bathroom and two bedrooms (one of which has access to the only ROOFDECK on the street).
See Also
If you are in the market to buy a home you can buy from the MLS and get a rebate
IHS Realty has MLS listings in 22 states. You can select your criteria. Search our listings by state and your stated price range or look for a particular listing. There’s bound to be something here for everyone, and if you buy a house through IHS Realty’s flat fee MLS service you could be eligible for a rebate or credit toward your closing costs. Search our listings now.
