- Spring Buying Advice: From
time to time I see an article regarding home-buying that I
believe is relevant and useful. On
March 24, 2015, Realtor.org posted an article with good advice
for buyers. I thought I'd post/share their article and offer some complimentary advice
and opinions of my own. If you have any thoughts,
questions, or comments; feel free to email them to me at Steve@CountyRealty.com.
Steve Freeman, Owner
1790 N Co Rd 180 E
Brownstown, IN 47220
BY APPOINTMENT ONLY
Spring Home Buying Strategies - Daily
real estate news 3/24/2015
of Steve Freeman, REALTOR
spring home-buying boom is underway, and this year
buyers in some markets will face an increased amount of
competition due to low housing inventory. In fact, the
most recent existing-home sales report from the National
Association of REALTORS cautions that "Insufficient
supply appears to be hampering prospective buyers in
several areas of the country and is hiking prices."
estate professionals around the country are echoing the
concern about the lack of available housing options.
"The [housing] recovery appears slow due to a lack
of inventory and a low participation rate among
first-time buyers, but its still a competitive
sellers market," says David Yocum, a Redfin
agent from Chicago.
order to be successful in competitive markets, buyers
need to be strategic in how they approach finding their
dream home. Here are five tips they can incorporate into
their home buying process that will prepare them with
all of the information they need.
am inclined to agree that inventory is getting squeezed, sort of.
The real way to frame this is that affordable inventory is getting
squeezed. The purchasing power of last year is not as strong this year,
meaning you get a little less for the same price - or you get the same
features and amenities, but you pay a little more for them this
The overall quantity
of homes on the market is relatively unchanged over last years levels;
it's just that prices are sliding upwards.
Away from the Computer
the fact that 90
percent of home buyers start their
search online, buyers should also consider getting
outside and canvassing their desired neighborhoods. In a
low inventory market, it's important to to be proactive
and not waste time weighing options, because by that
time, the property might be off the market. "In our
market we hope for a burst of new inventory in the
spring, but that doesnt always happen," cautions
Richard Seaton, vice president at TTR Sothebys
International Realty in the Washington, D.C., area.
"Even if that burst comes, demand will outstrip
supply, so buyers have to be in a position to make a
away, at least temporarily, may be a good idea; as long as you are using
your time productively. Hop in your car and go driving! If you
think a home in town is in your future, divide the town into quarters
and drive each quarter until you are familiar with it. Find what's
important to you - neighborhood feel/character, proximity to schools,
places of worship, shopping and employment are excellent factors to
That said, always
check back to CountyRealty's property search in your price range, and
desired township daily. The database updates once a day
Monday-Friday, and often on Saturday and Sunday too.
to Know the Current Housing Market
housing market is different, so it's important to do research on the
market and neighborhood trends. Finding a good real estate agent and
keeping up with local real estate news is crucial for buyers to
understand the nuances of their local housing market. "Buyers need
to get up to cartier replica sale speed quickly on market values so they know the right
decision when it presents itself," says Yocum. "The more
quickly buyers can educate themselves, the more successful the home
search will be."
track of neighborhood trends, to me, means watching for new
construction; watching for pride of ownership; and watching for sales
and price trends. This ties nicely with the suggestion to step
away from the computer and go for a drive! There are no
informative, current, or relevant newsletters that might help
someone understand these things.
When it comes to
sales price trends, CountyRealty provides integrated sales data within
price ranges that go back 365 days; and it's right there in the Property
Search function. (A=Available, S=Sold) Because CountyRealty is
database-driven, sales data as far back as 1993 can be retrieved.
There are also annual sales reports in PDF files already on the website
now, available for replica watches sale registered users. Custom and YTD reports are
available upon request.
Those Low Mortgage RatesBefore it's too Late
mortgage rates continue to hover below four percent, buyers might not be
able to enjoy these low rates forever. "With all indications
pointing to a rate increase from the Federal Reserve this year
perhaps as early as this summer affordability concerns could
heighten as home prices and rents both continue to exceed wages,"
says NAR chief economist Lawrence Yun.
said repeatedly - there is no benefit whatsoever in waiting to call your
lender and get prequalified and preapproved for a mortgage. Do it
Smart buyers have
their finances all set when they venture into the home buying
process. If, holding all things equal, you were a seller and had
two identical offers; one from a prequalified and preapproved buyer; and
the other from someone who isn't - what offer would you accept?
It is just smart to
get your mortgage all lined up, and do it today.
a Dynamic Team
fast pace of the most competitive housing markets means buyers have to
be in a position to make an offer at a moment's notice. Before making an
offer, buyers need to ensure they've lined up a real estate
professional, a lender, a lawyer, and a home inspector. They will also
want to be pre-approved for a loan and ready to complete a mortgage
application as soon as they find a property.
paragraph offers smart advice. I know of replica watches uk a few home inspectors I can
recommend. You can also use a lawyer and I know of a few of those as
well; but normally a lawyer isn't a required component of the
team. It never hurts to have legal counsel; but it isn't
2015 Home-Buying Guide: 5 Insider Tips From Real Estate
Pros Across the Country,"
Learnvest (March 9, 2015)
and comments welcomed! Steve@CountyRealty.com
Steve Freeman, am a licensed and very independent real estate broker in
Indiana. I only work with rational human beings. I've been serving Jackson County Indiana exclusively
since 1995. In 2000 I earned the prestigious Jackson County REALTOR of the Year
Award. I am a member of the National Association of REALTORS (NAR); the Indiana
Association of REALTORS
(IAR); the Jackson County
Board of REALTORS Multiple Listing Service (MLS); Jackson County
Landlord Association; First United Methodist Church; Seymour Evening
Lions Club, and the National Rifle Association.
is wholly owned by Steve Freeman 2000-INFINITY; All Rights
Reserved. CountyRealty is committed to the letter and spirit of the US
policy for the achievement of equal housing opportunity throughout the
nation. CountyRealty encourages and supports affirmative advertising and
marketing programs in which there are no barriers to obtaining housing
because of race, color, religion, sex, handicap, familial status or