August 22, 2006 – 10:35 am
Market Conditions
Interest rates will likely go to 7% by the end of the year. Getting a fixed-rate mortgage now would be a good thing.
Most markets in the US are experiencing what is termed a buyer’s market. That means you can be a picky buyer and negotiate prices.
If you use a commissioned agent that represents the seller then they are not likely to want to negotiate the price downward.
Now is a good time to try Flat-Fee MLS. By charging a flat fee to homebuyers and sellers, their interest is in providing service while the price doesn’t matter as much.
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December 10, 2005 – 8:38 am
Buying homes still the path to wealth for many
Real estate has proven to be a steadfast and consistent way to build wealth in the U.S. That’s because in spite of the fact that the real estate landscape is constantly changing, they still aren’t making any more of it. Homes are a precious commodity with no two pieces of property exactly alike.
Fast buck investors and "flippers" are likely to get out of the market as interest rates rise and market conditions worsen. This can provide a perfect time for the long term investor who is willing to nuture a property by putting a little time and work into improving their asset.
Real estate investing in single family homes, townhomes and condos can provide the savvy investor with a profitable portfolio, but it doesn’t happen the way infomercials promise on late night TV. Smart real estate investment takes patience and hardwork. Finding the right distressed property takes due diligence, and it helps if you have a good buyer’s agent.
The real estate investment market is competitve. Unless you have the time and ability to stay on top of new homes for sale from a variety of sources such as the Multiple Listing Service, foreclosures, for sale by owners, etc. by painstakingly reviewing new postings on a regular basis, you are probably going to get beat to the punch. A good buyer’s agent can help you by providing you with daily updates on new listings.
And once you are ready to buy a home for investment, a buyer’s agent can act as your representative negotiating the best possible price and terms on your behalf. It takes experience and good information to know how to get the best deal. Getting the help of professionals, doing some research and then rolling up your sleeves is the proven path to real estate wealth.
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