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 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.
TIMING IS EVERYTHING WHEN IT COMES TO BUYING HOMES
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