Matters that impact your real estate

Today I was asked this question and it reminds me that no matter what is going on in the market place most sellers and buyers are careful.  This question always comes up in a sellers and buyers market. 

My answer is a two part answer if you are a seller and you want to sell and can still accumulate some capital gains on your property sell, sell before the values come down further.  Mr seller don't let the time to sell pass you by as each month more properties hit the market and soon many foreclosed homes will be in the market. Now, Mr seller if you need to sell and feel the property you own is upside down (you owe more than it's current value) then one may explore a short sale...(will be happy to explain that process one on one or at a later time).

Now if you are a buyer the opportunity to buy your piece of americana real estate is here upon you in some cases at deep discounts from the values one has seen in the past few years. Now it's more important than ever to determine your financial goals and reasons for investing in real estate as the rapid appreciation has ceased in most market places.  Remember location, location, location (yes, repeating it three times helps to remember...hahaha)yes, location matters and your financing options do as well (100% financing is still availalbe for some buyers with high credit (fico) and asset documentation.)  Depending on verification of income and family size (copies of income taxes for the past 3 years, maybe required) there are some programs that provide assistance to first time home buyers (anyone that has not owned real estate in the past 3 years), the assistance maybe be with downpayment or lower than market interest rates or both.

Mr. buyer if you are interested in buying and can afford the payments now and in good faith expect to be able to keep up with this new debt (my suggestion please look into the possibility of qualifying for long term fiancing 7-10 year fixed rates at a minimum, amortized over 40 years to lower your payments, if you must get a 5 year fixed well just know your options) it is a great time to buy.

There are many, many loan programs and choices.

More to come until then if any question shall come up feel free to contact me as I am here to share all I know related to home loan financing and real estate buying and selling.

I may be reached at homes@rwyourrealestate.com

This is my opening blog in matters related to real estate purchasing, selling and financing.

It's my intention to be a source of information.

I trust that you will find this page and website helpful and know that I am here to assist you.