I want to share an article below worth reading written by the administrators of The Top Retirement site. The question they asked may be one that is paralyzing your decision making. One you been face with lot of opinions about from family members and friend who can be the worst voices to lend your ears too.
SO, IS THIS THE RIGHT TIME TO BUY OR SELL?
I agree with the article below: “that it’s a highly personal decision! “My opinion, the more voices you ears hear, the more paralyzing it can be! This differently includes the “so call experts” you hear in the media, and what you may read in magazines and newspapers.
The decision is also a battle between the emotions and logic: feelings vs. thought. Perhaps the referees are your finances! That can be solved by hiring a financial Planner, talking with several, Mortgage lenders/banks, an accountant and perhaps a tax adviser.
Realtor Ron W basic rules you may want to incorporate:
- Know where you at in the present, so you can decide and know on the direction you want to go in the future.
- never buy what you want, but what you need; then add your wants as life goes on and changes.
- a bigger house, means more expenses both to maintain and repair.
- an older house, can become a little harder to insure, and expensive to insure.
- always have your home inspected, even if it been just built or never been lived in.
- You can save a bundle on insurance by being able to provide to your insurance company:
Wind Mitigation Inspections
Four Point Inspection> Keeping Your Home Insurance Low
- never buy from a listing agent, their interest is with the seller.
- Show everyone you have to deal with, you are a serious investor, not just a player or looker
How do you show you are a serious investor?
ARE YOU ABLE TO BUY? You can seek help from financial planners, talk with lenders, examine your investments that can become risky, its’ value collapse, as happened too many times in recent years)
ARE YOU WILLING TO BUY? Again this is a highly personal decision that is in danger by the of opinion your ears are subject to.
ARE YOU READY TO BUY? Now you can understand why, you are asked if you been pre- qualified by a lender. You should investigate three different lenders and compare their Good Faith Estimate, and pick the one that serve you best.
For the last several years, I have been telling people, if you had the funds, buy! If you can hold off from selling, do not, if the house is getting you down, get rid of it and move on. Do not handle this like stocks or other investments, “hoping and praying”. A home still require maintenance, which means expenses, to keep its value as well as to maintain.
Lastly, watch what the winners are doing, the Warren Buffett, Donald Trump, and others. They were telling you to buy, buy, buy! This is what they been doing!
Finally, I want to leave you with this thought, a quote from John Templeton “The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell”.
We are past the time of maximum pessimism in the housing market, and far from reaching maximum optimism. Interest rates are still amazingly low, but the costs of getting a loan have been going up over the last several years, and will continue to rise because of the debt carried by Fannie Mae/Mac.
If you manage to stay with me, thanks for taking your time to read my post. Now I want to read yours, and wonder what your opinions are.
Also I like to share; I am working on another website, still under construction but usable. I would appreciate if you can visit and email me your opinions as well tell me what you would like to see on a real estate Site. What are the important things to you! After all, it is all about YOU!
Realtor’s Ron W site under construction preview: http://realtorronw.com
Again: “Pictures without ALL the information are never the total picture and always the entire story ~! Pictures being shown, are attention gotcha, use to draw your interest. The rest, the information, will help you decide. Where that information comes from is IMPORTANT to you, and it may not all be on the listing information! Hire an agent that will tell you and find the missing pieces. Then when you actually view the property everything will fall into place. Remember too; hire a Realtor® that is not the listing agent that serves the seller. Lastly, the seller pays the commission; you get to choose your Realtor®! I am that Realtor.”
Till next time, My Best to you, & hope you find that property you are looking for!
Ronald (Realtor Ron W) wolchesky “Success is when we work together to achieve your GOAL!” License in Florida Home: 239-349-4684 Cell: 239-209-1923 Contact Me Directly
Is It Finally the Right Time to Buy (or Sell) Your Home?
April 24 — Oh what a contrast from 4-5 years ago. In the dark days of real estate reporting in 2008 and 2009 there was a steady drumbeat of foreclosures, short sales, record home inventory backlogs, and falling prices. There were no buyers, it seemed, and although there weren’t many sellers, it wasn’t from lack of trying.
Something to (Grouse) About Fast forward to the March sales report from National Association of Realtors (NAR) that came out this week. Sales are up 10.3% above the year ago month, and the median price of a home, $184,300, increased 11.8% over February. But if you thought the NAR would be downright cheery about this situation – guess again. There’s a problem – not enough inventory. There is currently only a 4.7 months supply (6 months is considered healthy). That lack of supply is blamed for month to month sales slowdowns. While a drag on the market for existing homes, this has been good news for builders, who are finding a more welcome market for the new homes they are starting to build in increasing numbers. The higher end of the market is doing much better than the lower end, which appears at least partially to be related to a decline in the share of purchases from first time home buyers.
Various press accounts cite a paradox explaining the inventory slowdown. One reason for it is that the number of foreclosures is declining. Another is that many home owners have a price in their mind for what they want to get for their home. Prices haven’t yet risen to that level, so they are reluctant to put them on the market. Yet the homes that are for sale have more would-be buyers these days, so above asking price offers and bidding wars are starting to crop up in some markets.
Another factor in the housing market’s favor is near-record low mortgage rates. The average 30 year fixed mortgage is at 3.41%, just a whisker above the all time low of 3.31 in late 2012. Few people want to miss out on those rates. (Editor’s note: We bet we are not the only baby boomer who had a 16% mortgage back in 1982).
So is it time to buy yet? In our opinion the sentiment in the market has changed. There is pent up demand, including from baby boomers who have been on the fence about buying their retirement home. Nobody wants to miss out on the low prices that have existed for the last few years. The braver folks who bought in the depths of the market look like they made good decisions – at least today. Many others also don’t want to sell their existing home at a price lower than their “target” – if that still has room to rise. And they often can’t buy a new home until they get the money from the old one.
We can’t tell you if this is a good time to buy; that is a highly personal decision. But we can tell you that the trajectory of the market seems to have changed. What do you think?