Should I buy a home now or wait in case home prices drops more?
Many opportunities will come from this market for the buyers that step in and take advantage. You have to live somewhere and in this market owning can actually be the same or cheaper than renting.

Here are six good reasons to make your move now:

  1) You can get a great deal - Will prices fall further? Sure they could. It's difficult to predict the bottom. IF you think prices will drop another 5%, simply make your offer 5% less today. Sellers want to know what buyers are thinking. Lower home prices give buyers the opportunity to get more for their money.

  2) Historically Low Interest rates - lowest on record since 1971. If inflation picks up, you won't see these mortgage rates again in your lifetime! If they drop, simply refinance to the lower rate. Low rates give buyers more purchase power.

For example: $100,000 at 4.83% / 30 yrs is approx $526 PI payment monthly

$100,000 at 6.5% / 30 yrs is approx $632 PI monthly

  In order to keep the same house payment of $526 monthly when interest is 6.5% the buyer would have to drop his purchase price to $83,500 more than likely getting less home for the money.

  3) Income Tax Deduction -Mortgage Interest & your property real estate tax is deductible

  4) Inflation Protection - a fixed rate loan locks your payment amount for the life of the loan, offering protection from inflating interest rates and out of control payments.

  6) Equity /Savings - Real estate is the most important investment most of us will make in our lifetime. IF you are not selling in this market than you will not loose anything, stay put, make your payments and ride out the storm; wait for the market to recover. Nothing is lost unless you bail. If you are purchasing now, your gain will be the low pricing, the low interest rates and time is on your side.

Nothing ventured, Nothing Gained, The only thing lost is opportunity.

What is a "Buyers' Agent" and why should I have a Buyers' Agent represent me when purchasing a home or real estate?

  A Buyers Agent is a licensed real estate professional that will represent you and will keep your information confidential. An experienced agent is a big advantage as a resource person to gather information about a property and experienced in negotiations. The Realtor should have experience and be able to walk you through the process.

  Buying real estate can be complicated and for most of us is the biggest investment we will make in our life time. A Buyers Agent has the listings from all companies at their fingertips through the cooperative agreement called the Multiple Listing Service . The Realtors website is updated more frequently and offers more detailed information than the public sites.

  Committing to one agent is a big advantage, that agent will be dedicated to working for you. Your agent will set up appointments and answer questions you may have regarding all aspects of real estate. The agent is usually paid out of the transaction, splitting the a commission with the sellers agent. If a property is a For Sale By Owner it is not uncommon for a seller to offer a Buyers Agent Commission in hopes of opening that opportunity.

  But the basic rule in real estate is that all properties are unique. Homes differ and so do contracts, terms such as; financing options, inspection requirements, disclosure requirements, and closing costs. Its important to have an experienced agent that can identify red flags, and explain "safety nets" that protect you as you enter into negotiations when purchasing a property. The Realtors job is to educate you, so that you are able to make the decisions for a successful negotiations enabling you to purchase the property you wish to own.

When considering selling a home what are some things I should consider doing before listing my home for sale?
Re/max Select Properties
First Impressions are very important and will help your home sell.

Clean closets and de-clutter dividing into 3 categories: keep, Good Will, & toss.

Clean, sweep, & wash everything from windows, walls, floors, and get the corners.

Paint walls & trim, this will help freshen and update your homes appeal.

Replace broken tiles, window glass, screens, & outdated light fixtures.

Repair plumbing leaks and dripping & scrub clean bathroom fixtures.

Freshen up your basement. Foundations are one of the most important parts of a home and buyers want to see it. Sweep down the cobwebs! If your basement is unfinished living space, you can create a functional space by painting walls white, floors with an floor paint and making sure the lights all work. A few shelves offer storage space which every home needs.

Replacing flooring and updating the homes decor can add value for little investment.

Larger items like shingles or furnaces can be offered as part of a closing price package.

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Roxanne Johnson, Broker, ABR, CRS, GRI- Accredited Buyer Representative