7 Real Estate Secrets You Never Knew

Ladies and gentlemen: This isn't your mother or father's real estate market! While there are some similarities to past markets, the mix of politics, economics, finance, uncertainty, world affairs/events, interest rates, and insufficient predictability, have formed a somewhat-uneasy alliance, which, when understood and considered, have little ultimate impact, yet, all-too-often, develop a confluence of somewhat undesirable circumstances, which create stumbling blocks, obstacles, and obstructions. Perhaps more than ever, who you decide on, and why, to represent your interests, as your Real Estate Professional, includes a major impact, in attaining the most desirable goals. Before you decide on this interview, carefully consider your objectives and goals, in a realistic, non-emotional manner. Rather than merely saying you intend to get the greatest price, or some pie-in-the-sky number, consider, what you may be willing to pay, to purchase your home! Your realtor should offer you Comparables, or what similar houses, in your market, have recently sold for. This is the greatest indication of suggested listing prices, but remember that every house is significantly diffent, and slight differences often overly impact just what a buyer is welling to pay for, or if he's even interested. Let's review 5 major considerations in today's market.

1. Time frame interest rates have now been at, or near historic lows: Going back couple of years, interest rates, and thus mortgages, have been at or near, historic lows. This has permitted people to get more house for the exact same monthly payment, yet the uncertainty continues to exist, concerning simply how much longer they'll remain so low. Most experts are calling for interest rates to nudge slightly upward next several months, but they issue the caveat, it depends on the overall economic conditions.

2. Historically low ownership rate: Because of several factors, like the economy, housing costs (especially in certain areas), rental availabilities, the mandatory downpayment (which many don't have, or don't desire to commit), and uncertainty, in terms of the economy, jobs, etc, the percentage of individuals owning their own home is less than it has been around decades.

3. Low inventory: Partly due to the demographics, when it comes to age brackets, etc, and somewhat because many homeowners ask themselves where they are going to move, along with many individuals retiring later, we are witnessing, in several regions, a low inventory of homes listed on the market.

4. Willing and able buyers: There be seemingly available buyers, in a few regions, but these individuals, are often frustrated by the mixture of low inventory, mortgage and downpayment obstacles, uncertainties, etc.

5. Mortgage qualifications: Banks and mortgage companies are constantly tweaking their requirements for accepting buyers for mortgage consideration. Within the last a long period, to be able to qualify for the cheapest available rate, one's credit score must certanly be somewhat higher than before, in addition to other debt considerations. While this is often overcome, one must find the right buyer, with sufficient patience, energy and willingness, to overcome potential frustrations, etc.

Understanding the nuances makes one better capable of realistically listing their house for sale. Carefully interview potential real estate agents, and choose the one who's best for you!

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