The old adage that “timing is everything” especially applies to buying a new home.  And trying to be at the right house at the right time and get it for the right
price can be tricky.  Here are some guidelines to assist you:

  • Turn to the real estate section of your Sunday newspaper or ask your CENTURY 21 Adams & Barnes REALTOR for a weekly market guide update.
    Monitor the market and tract home prices. Expect to spend 90 days watching the real estate market through advertisements.  Question and investigate
    homes that are advertised month after month.  Hard-to-sell properties could either be a warning sign or simply overpriced for the value.
  • When your CENTURY 21 Adams & Barnes agent  provides you with descriptions of homes currently on the market from the Multiple Listing Service
    (MLS), ask for a list of homes that were on the market within the last six months or year in the same neighborhood.  Compare asking prices to actual
    sales prices for the same type homes.
  • In addition to monitoring housing prices, learn to identify hot, up-and-coming neighborhoods by tracking selling prices from week to week.  If one
    neighborhood experiences price booms while other house prices are sluggish, its’ clear which community to invest in.  If you’re passionate about an
    upscale area – and on a budget – prepare to buy a fixer-upper and invest some money in renovation.  Conversely, beware of buying a beautiful home in
    a marginal area.  You may not get your money back when you sell.
  • Keep close watch on the fluctuating mortgage interest rates.  Low interest rates are the most inspiring reason to buy property. Have frank and detailed
    discussions with your mortgage professional (www.blvdmort.com) on a consistent basis to learn more about the fluctuations in the lending field.
  • Also watch the national Discount Rate, the rate at which banks can borrow money from the government.  When the Discount Rate drops, banks pay
    less for borrowing the money and in turn reduce mortgage rates to the borrower.

Predicting when a market is ripe for home buying is not an exact science – even for real estate experts.  However, by following these simple tips – and staying
on top of real estate trends, sales patterns and interest fluctuations, you are sure to get the best house for your buck.

At CENTURY 21 Adams & Barnes our REALTORS work hard to guide you in making informed decisions with confidence. Contact us today with any additional
questions you may have.
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TIMING IS EVERYTHING WHEN IT COMES TO BUYING HOMES
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