Do You Make These Simple Mistakes In Real Estate

Ladies and gentlemen: This isn't your mother or father's real estate market! While there are several similarities to past markets, the mixture 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 choose, and why, to represent your interests, as your Real Estate Professional, has a major impact, in achieving the most desirable goals. Before you choose this interview, carefully consider your objectives and goals, in a reasonable, non-emotional manner. Rather than merely saying you want to get the greatest price, or some pie-in-the-sky number, think about, what you could be willing to cover, to get your home! Your real estate agent should provide you with Comparables, or what similar houses, in your market, have recently sold for. This is the better indication of suggested listing prices, but remember that each house is different, and slight differences often overly impact just what a buyer is welling to cover, or if he's even interested. Let's review 5 major considerations in the current market.

1. Time period interest rates have already been at, or near historic lows: For the last couple of years, interest rates, and thus mortgages, have now been at or near, historic lows. This has permitted people to buy more house for the exact same monthly payment, yet the uncertainty continues to exist, regarding simply how much longer they'll remain so low. Most experts are calling for interest rates to nudge slightly upward in the next several months, but they issue the caveat, this will depend on the entire economic conditions.

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

3. Low inventory: Partly because of the demographics, with regards to age ranges, etc, and somewhat because many homeowners ask themselves where they are going to move, in addition to 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 some regions, but these individuals, are often aggravated by the mix 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. In the last many years, in order to qualify for the best available rate, one's credit score must certanly be somewhat more than previously, along with other debt considerations. While this is overcome, one must find the correct buyer, with sufficient patience, energy and willingness, to overcome potential frustrations, etc.

Understanding the nuances makes one better effective at realistically listing their property for sale. Carefully interview potential real estate agents, and choose the one who's best for you personally!

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