Shouting from the Roof Tops!!

This is a Great Time to be a Real Estate Buyer and because of that it is also a good time to sell real estate.

I would, if possible, shout from the roof tops

• “These are the Best of Times to be a Buyer, a remarkable combination of low interest rates with an appealing inventory make a magnificent shopping environment”.

That is, of course, to long a sentence to shout so I will try to tell as many as possible. The two things that work together to make this a  Great time to buy is cheap money,  and a good selection of houses to choose from. Here is a short list of suggested steps, these will work for obtaining a foreclosed house, a Short Sale or a private sale.

1. Choose an Agent that is experienced in short sales and bank foreclosures.  An agent that can guide you through all the required addendum’s and help you understand how the process works. Short sales are really an oxymoron because they take so long to get to close. I know the ‘short’ really refers to the amount of money paid to the bank is less than the bank is owed and the attendants we work with are all paid by the hour. The foreclosures have their own layers of paperwork, most of it is about the bank having no knowledge about the property and are blameless if something does not work or is missing.
2. Get yourself prequalified   by starting from how much you can comfortably afford to pay out each month. Remember to allow for taxes, insurance and utilities each month. I like to work with our local lenders; we have some very good ones.
3. Make your list of must have features and like to haves. Than evaluate the houses as well as the neighborhoods. Does the house have curb appeal, age of roof, newer windows, older furnace, size of lot and size of garage? As well as all the other questions that need answers to help you make a good decision.
4. Now you have found the house you love. With your agents help, you make an offer and negotiate the price and terms. Inspections and appraisals take place; a short sale that could wait months, all others should be about 8 weeks or less.

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