Buying a Home in Today’s Market
As a first time homebuyer you probably have many questions. Besides how to get a mortgage and finance your new home, you should consider whether buying in today’s market makes sense for YOU and what price you should pay in order to get to the home of your dreams.
When is the best time to buy?
There are many factors and aspects to consider before anyone can say when is the best time to buy. All in all today, being a buyers market gives you leverage when buying a home. Low home prices result from this excess of supply over demand. What is essential is that you make your decision after having considered both the real estate/housing market and the mortgage market. Currently low home prices combined with low interest rates make purchasing real estate a viable and good decision.
Want to know more about the mortgage market outlook? Then read The Real Estate Report from AMSI Broker, Robb Fleischer for local market trends in San Francisco http://rereport.com/sdc/print/RobbFleischerSF.pdf
Ultimately, the best time to buy is when you are personally ready to settle in, when your finances are in order and when the home prices are low. (…and in today’s market, when interest rates are low, and with the availability of inventory it does make perfect sense).
How to qualify to buy a home?
Before you start your search for your home, you should get pre-qualified, to find out if you do qualify to take on such a significant purchase, but also to find out how much you can afford. The first step should be to get your finances in order and get pre-approved for a mortgage, so you know the types of loans, financing and rates extended to you.
How to know which price to pay?
Buying a home is a process one must learn, whether you are a first time buyer or a savvy investor. Each transaction is unique and differs from another. It is important that you work with a professional expert or good team so the entire process is efficient.
Working with a real estate professional is important; not only he or she will make the process smooth for you but also check all disclosures, and make sure you do not pay more than the current market value of the house of your choice. A real estate agent knows how to evaluate a property but also how to negotiate the best price, which will satisfy both you as the buyer and the seller, and ultimately make you the new homeowner!
Want to know more about real estate sales? Then visit our website www.amsires.com