The market is ripe. How ready are you?
By the way, the best way to do some research on your own is to drive by neighborhoods at different times of the day and night. Chances are, you’ve seen a house in that neighborhood, or had your eye on a home and wished you could buy there. Now you have your opportunity and one pops up that you don’t want to miss.
Ever wonder if other people might be thinking alike? Is there a perfect house? No. But there is a perfect house for every buyer and this could be your lucky day.
So you cal your trusted real estate professional on the phone and you have a zillion questions. How much, how long and how many offers has this property had. After all, the signs been outside for months. It’s probably a dump inside. Right? Wrong.
Turns out the property is a short sale in excellent condition with plenty of upgrades. Problem is seller has to sell due to financial difficulties…………but the bank is not responding fast enough. There are offers on the table, and more coming in daily, but no word from the bank. You would think they would want to sell the place and get it off the books!
Wrong again. They have their reasons for delaying. The reasons are too great to mention here, but if you want a free consultation on a short sale property or any other that interests you, then call me. I do weeknight and weekend appointments to suit your schedule.
Thanks for reading my blog. I wish you success. Serena Russell, Realtor®
serenarussell.com
2011 will be the start of something big for real estate. The year of the rabbit signifies a year of multiplication. In many cultures the number 11 is a significant number for many reasons. 1+1=2 and 11×2 = 22 and so forth.
The stair stepping mode we’ve experienced in 2009 and 2010 will continue into 2011. As we head toward an election year politicians will continue to build favor with the voters and with this strategy, the economy is headed toward a turn around. The mist of the past is about to dissolve, and be replaced with optimism and a new outlook.
What does all of this mean for home buyers, sellers, investors and the professional real estate arena? Along with these positive economic trends, Americans will be able to put away greater wealth in 2011. Many consumers have learned to curtail spending and to live more reasonably within their means. Credit companies have raised rates and decreased credit limits to stay in business. Banks have learned how to move the inventory caused by foreclosures and short sale activity. Rents are on the rise. We are in recovery and are headed back to a more normal pre-recession economic climate……………
SPENDING POWER: Unemployment rates are lower now than a year ago and expected to keeping declining. This is good news for the economy. Consumers have achieved greater spending power over the past 2 years, mainly due to fall prices. Consumer confidence is rising, and this trend is expected to continue for 2011.
The downward spiral of the past is past. Business has a healthier outlook for the year ahead, as consumer seek to get market share.
Take for example: Ford Motor Company, Read the rest of this entry »
Whether you’re a first-time buyer looking for the perfect starter house, or a seasoned pro trading up to your waterfront dream home, you are probably asking the same questions: Can I afford this? And is this the right move at the right time?
Of course, you can use a mortgage calculator and ask the experts — lenders, agents, and mom — but the reality is that you are the only one who truly knows whether you can afford to buy right now.
Simple Budgeting: Start with is a detailed expense breakdown. Analyze what you spend — at least get a full month’s snapshot. You’ll see where you may have wiggle room in your budget and what you can afford for housing. (Be sure to count all those little incidental expenses like dry cleaning and yes, those mid-afternoon Starbucks lattes count in the budget, too!)
Debt-to-Income Ratios
If you figure out that you can afford your projected budget, chances are you’ll qualify for a mortgage in your range. Lenders will determine how much loan you can afford by using something called your debt-to-income ratio.
If your credit is stellar, you will be rewarded. Lenders may stretch these ratios allowing you to purchase more home and take advantage of more lending programs.
So go ahead and get qualified today. It is simpler than you think.
