More on Homebuyer's Tips

In the real estate market timing is the most crucial factor.  For most properties in most areas it’s a buyer’s market, therefore this spring and summer is the best time to buy real estate. The wide choice of properties in the market now can be both a blessing and a curse for a homebuyer.  In order for you to get the best deal on a house this year we present you with these useful homebuyer tips:

Make a list

Making a list may really help you to narrow your search in the market with many choices.  We encourage you to make a list of things that you really need in the house, things you may find useful, and things that would be a deal-breaker.  If you are buying a house with a spouse, you both should make your own separate lists and then try to integrate them.

Do research

In order to avoid buyer’s remorse we encourage you to do a research of the community before you buy a property there.

•  You may easily study the quality and the cost of living in a given community by doing the shopping in some of the grocery stores there and buying gas in the area. Check also for libraries, health clubs, bookstores etc.

•  Test the commute. You should do the test drive in the area during the rush hours on Monday.  If you are planning to use public transportation you should also check your options.

• If you have children or planning a family, you should check the schools in the area. How do they look?  What reputation do they have?

• A great source of knowledge about the community is also the local newspaper.

Don’t insult the seller

Insulting the seller and the property he is offering is a mistake if you want to get a good price on the house.  Instead of saying, “this ancient kitchen should have been demolished a decade ago”, you might say “Other houses in the market have been more updated in this matter and that is an important factor for me.”  This way you make a base for negotiation without making the seller angry and unwilling to cooperate.

Stay informed

Keep up with the market trends while you are shopping so you are prepared when it is time to make an offer.  Look for the for-sale signs in the neighborhood ­ how long are homes staying on the market?  Use the local newspaper to analyze the relationship between the sales price, value and asking price.

Pull all extras in your first offer

Negotiations are always more elastic at the beginning when both, buyer and seller wish to make a deal.  Thus, you should present your entire ist of things that need to be repaired; concessions at the beginning of the negotiations, not wait until the very end.

If you have any questions or comments concerning this article, leave us your opinion below.

Housing Woes Far From Over

Even though home building rose in March, economists cautioned that a look inside the numbers shows the worst is far from over for the battered housing sector.

The Census Bureau reported that housing starts rose to an annual pace of 1.52 million in March from a revised 1.51 million rate in February. The forecast was for the pace of building to slow to a 1.5 million rate in March.

However, most of the country experienced a decrease from the February's pace of housing starts. In the South there was a 3 percent decline in home building and in the Northeast and West building fell nearly 8 percent.  In the Midwest, due to the bad weather conditions in February and then good conditions in March, house building jumped 44 percent as builders tried to catch up with delayed projects.

Building permits, often seen as a measure of builders' confidence in the market, fell to an annual rate of 1.54 million in March from 1.53 million in February.  The consensus forecast had been for permits to slow to a 1.52 million rate.

What is your opinion about the trends in U.S. house building? Share your opinion with us below.