Look for a home that has unique features and is hard to replace.
With the Feds monitoring the housing market by raising or lowering the mortgage, the best time to buy may be when the rate has increased while the housing prices have come down significantly.
Before all the ‘as-is’ transactions, seasoned Realtors prior to 2002 had to negotiate for repairs. To do so, they had to understand inspection reports and the general costs of various repairs.
You can only tell the true value of a neighborhood during a downturn.
Find a Realtor who can walk away from the sale in order to protect the client’s best interest.
Discount agents usually need to double-end the transaction in order to be worth his/her effort. In other words, they are more concerned about his/her own commission, instead of the seller’s net proceeds.
Affordability is nothing but a mathematical equation.
The high-end market follows the high-tech IPOs. Mid-price homes follow the base salary and mortgage rates. Entry-level homes follow the mortgage rate, the CD rates, turn-over rate, and the rental market.
Your home’s worth is only as much as your next home buyers’ affordability, the need to purchase, and how many other similar homes they can choose from.
