Lagravier.com Real Estate

August 2, 2010

The economy is stabilizing and home prices are holding. It’s not just as good a time as ever to buy a house—it’s one of the best times ever.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.
2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back, kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.
3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system—and this is just the opportunity that owners of many desirable properties have been waiting for.
4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market. This ensures that today’s deals will make it over the finish line.
5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by “workforce housing” programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.

via 5 Smart Reasons to Buy a Home Now | RISMedia.

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Ilyce has compiled a checklist to be used by home buyers, and in particular, first time home buyers when looking for a new home. While her best selling book 100 Questions Every First Time Home Buyer Should Ask outlines many of the items in this checklist. It’s good to have a handy list when shopping for a home. You can buy Ilyce’s book at most bookstores and at most online bookstores including BarnesAndNoble.com, Borders.com and Amazon.com.

Wouldn’t it be great to have a home buying checklist? Something you could stick in your pocket that would remind you to ask all the right questions and make a smart home buying move?

As we count down the final few weeks to take advantage of the $8,000 first-time home buyer tax credit and $6,500 long-term homeowner tax credit, it’s helpful to have a checklist all home buyers can turn to.

via Real Estate Advice: Home Buyer Checklist For 2010 | ThinkGlink.

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