buying? Search for Homes
We all know that this is a great market if you are making a purchase. Interest rates are low and prices are great. So, this is the "no brainer" ...If you have the credit, some cash and a job... today, right now is the time for you!
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| Listings showing activity courtesy MAPass.com shows activity pretty consistent over 6 months minus the expected drop over holidays |
selling? Homes for Sale
here is the tricky one! if you are looking to sell, you have tons of competition, not only from your neighbors, but from banks looking to unload foreclosed homes and folks trying to sell short, offering their properties out at artificially low prices...
is the time right for you to put your property on the market? that depends... but, consider this....
if you are looking to sell your home and buy another.... well .. your current home may not be worth what is was years ago... BUT neither is the home you will be buying! it's basically a money shuffle AND if you are looking to get into a new home.... this is the time to do it as you will pick up a low interest rate and a good price on your new place. if you wait for the market to come back .... that new home is going to be offered at a higher price, likely the interest rates will be higher as well....
so in this scenario.... yea... a great time to sell too!
renting? Find Rentals
rental properties are moving quickly.... if you are looking to rent, don't hesitate if you see a property you like.. if you are thinking of renting out your property... make sure you know the laws, and get to know your prospective tenant.
investing? Search Investments
interest rates! foreclosures! lots of folks looking for rentals! need i say more?
that's my opinion....
What is yours???....i really value your opinion.... please comment!
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It sounds like a good time to buy, sell or rent! Your graph is a real eye opener! Good job.
ReplyDeleteThanks! It is interesting how much spin influences our opinions. The graph is great reality check.
ReplyDeleteI guess it is either a time to sell or a time to buy. Makes sense that if the timing is that you are selling your home for less. You are getting a better deal on your next purchase. Are there any statistics on being a property owner wanting to rent? In these times would it be worth purchasing something to use as a rental? Any guidelines for what to do or not to do as a landlord? This article makes you think more.
ReplyDeleteHi Vince! Definitely worth looking at purchasing an investment property BUT, it needs to make sense. For that you would want to look at the return on investment. This is a link to a calculator designed to help with that. http://www.calcxml.com/do/inv04
ReplyDeleteJust as important, is considering factors, like is one able to manage and maintain the property themselves, or are they going to have to hire someone to do that for them. As a landlord it is imperative to know and comply with the local laws pertaining to owning rental property, (not just landlord/tenant laws, but those pertaining to the physical property, and your tax considerations as well) A careful screening of prospective tenants credit and references will go a long way towards making a smart investment.